Similar Search Results

March, Christoph; Ziegelmeyer, Anthony - 2009

become extremely and wrongly confident about the state of the world -- Social learning ; Non-Bayesian updating ; Herding …

Persistent link: https://www.econbiz.de/10003924223

Adaptive social learning

March, Christoph - 2016

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly interact in social-learning settings with distinct information structures. In each round of interaction, they use their experience gained in past rounds to draw inferences from...

Persistent link: https://www.econbiz.de/10011434567

Herding differently : a level-k model of social learning

Penczynski, Stefan P. - 2013

This paper proposes a behavioral model of social learning that unies various forms of inferential reasoning in one hierarchy of types. Iterated best responses that are based on uninformative level-0 play lead to the following of the private information (level-1), to the following of the majority...

Persistent link: https://www.econbiz.de/10011490245

Excessive herding in the laboratory : the role of intuitive judgments

March, Christoph; Ziegelmeyer, Anthony - 2018

actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …-Bayesian updating and informational misinferences are the two channels that drive excessive herding, while the strong (resp. mild … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …

Persistent link: https://www.econbiz.de/10011789104

Conversation, Observational Learning, and Informational Cascades

Cao, H. Henry; Hirshleifer, David A. - 2009

though they can discuss the outcomes of their choices. Models of informational herding or cascades have examined how rational … the cascades/herding literature. In a setting which adds 'conversational' learning about both the payoff outcomes of … predecessors to a basic cascades model, we describe conditions under which (1) cascades/herding occurs with probability one; (2 …

Persistent link: https://www.econbiz.de/10014132384

Leading, Learning and Herding

Miller, Steven J.; Stone, Daniel F. - 2013

increase the probability of herding on consumption of both high and low quality goods …

Persistent link: https://www.econbiz.de/10014191123

Altruistic observational learning

March, Christoph; Ziegelmeyer, Anthony - 2016

We report two information cascade game experiments that directly test the impact of altruism on observational learning. Participants interact in two parallel sequences, the observed and the unobserved sequence. Only the actions of the observed entail informational benefits to subsequent...

Persistent link: https://www.econbiz.de/10011436128

The recommendation effect in the hotelling game : a new result for an old model

Conze, Maximilian; Kramm, Michael - 2013

Hotellings berühmtes "Prinzip der minimalen Differenzierung" behauptet, dass zwei Firmen, die sich miteinander in räumlichem Wettbewerb befinden, dieselbe Position wählen. Wenn man räumlichen Wettbewerb als Modellierung von Produktdifferenzierung versteht, bedeutet dieses, dass die Firmen...

Persistent link: https://www.econbiz.de/10010221891

Information diffusion in networks through social learning

Lobel, Ilan; Sadler, Evan - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 3, pp. 807-851

We study perfect Bayesian equilibria of a sequential social learning model in which agents in a network learn about an underlying state by observing neighbors' choices. In contrast with prior work, we do not assume that the agents' sets of neighbors are mutually independent. We introduce a new...

Persistent link: https://www.econbiz.de/10011673206

Adaptive Behavior in the European Parliament : Learning to Balance Competing Demands

Lindstädt, René; Slapin, Jonathan; Vander Wielen, Ryan J. - 2012

Parliamentary institutions and partisan norms are complex, and new members of parliament are unlikely to possess an innate awareness of optimal behavior. This paper examines how new legislators adopt the behavioral patterns of incumbent members in the 6th European Parliament. The 6th EP provides...

Persistent link: https://www.econbiz.de/10014181637