Using Response Times to Infer Others’ Beliefs : An Application to Information Cascades

The standard assumption in social learning environments is that agents learn from others through choice outcomes. We argue that in many settings, agents can also infer information from others' response times (RT), which can increase efficiency. To investigate this, we conduct a standard information cascade experiment and find that RTs do contain information that is not revealed by choice outcomes alone. When RTs are observable, subjects extract this private information and are more likely to break from incorrect cascades. Our results suggest that in environments where RTs are publicly available, the information structure may be richer than previously thought

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Year of publication:	2019
Authors:	Frydman, Cary
Other Persons:	Krajbich, Ian (contributor)
Publisher:	[2019]: [S.l.] : SSRN
Subject:	Theorie \| Theory \| Entscheidung \| Decision \| Herdenverhalten \| Herding \| Experiment \| Informationsökonomik \| Economics of information \| Informationsverhalten \| Information behaviour \| Befragung \| Interview

Extent:	1 Online-Ressource (68 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 8, 2019 erstellt
Other identifiers:	10.2139/ssrn.2817026 [DOI]
Classification:	D87 - Neuroeconomics ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; C92 - Laboratory; Group Behavior
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012903056