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Wu, Jiemai - 2021

This paper extends the model of information cascade (Bikhchandani, Hirshleifer, and Welch, 1992) by introducing two correlated queues of players. By comparing the equilibrium outcomes of the two-queue game with the benchmark one-queue game, this paper finds out that the observability of...

Persistent link: https://www.econbiz.de/10014361607

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

Strategic communication : an experimental investigation

Eckartz, Katharina; Ehses-Friedrich, Christiane - 2014

In this paper we attempt to compare theoretically and experimentally three models of strategic information transmission. In particular we focus on the models by Crawford & Sobel (1982), Lai (2010) and Ehses-Friedrich (2011). These three models differ in the information that the receiver...

Persistent link: https://www.econbiz.de/10010260085

Communication with multiple senders : an experiment

Vespa, Emanuel; Wilson, Alistair J. - In: Quantitative economics : QE ; journal of the … 7 (2016) 1, pp. 1-36

We implement multi-sender cheap talk in the laboratory. While full-information transmission is not theoretically feasible in the standard one-sender-one- dimension model, in this setting with more senders and dimensions, full revelation is generically a robust equilibrium outcome. Our...

Persistent link: https://www.econbiz.de/10011798907

On information aggregation and interim efficiency in networks

Jiménez-Martínez, Antonio - In: Games 8 (2017) 1, pp. 1-14

This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and,...

Persistent link: https://www.econbiz.de/10011621465

Dynamics of strategic information transmission in social networks

Förster, Manuel - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 1, pp. 253-295

We develop a dynamic framework of strategic information transmission through cheap talk in a social network. Privately informed agents have different preferences about the action to be implemented by each agent and repeatedly communicate with their neighbors in the network. We first characterize...

Persistent link: https://www.econbiz.de/10012020319

Can there be a market for cheap-talk information? : an experimental investigation

Cabrales, Antonio; Feri, Francesco; Gottardi, Piero; … - 2018

This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given the previous experimental results on cheap-talk games....

Persistent link: https://www.econbiz.de/10011822038

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

Ultrametricity of Information Cascades

Ghosh, Rumi; Huberman, Bernardo A. - 2014

Whether it is the inter-arrival time between two consecutive votes on a story on Reddit or the comments on a video shared on Youtube, there is always a hierarchy of time scales in information propagation. One vote/comment might occur almost simultaneously with the previous, whereas another...

Persistent link: https://www.econbiz.de/10014152921

Informational Herding as Experimentation Deja Vu

Smith, Lones; Sorensen, Peter Norman - 2008

We prove that the recently proposed informational herding models are but special cases of a standard single person … experimentation model with myopia. We then re-interpret the incorrect herding outcome as a familiar failure of complete learning in a … herding externality in this fashion, incorrect herds and incomplete learning still obtain. We note that this outcome can be …

Persistent link: https://www.econbiz.de/10014208411