Morone, Andrea; Samanidou, Eleni - Dipartimento di Scienze Economiche, Facoltà di Economia - 2007
In his "Simple model of herd behaviour", Banerjee (1992) shows that - in a sequential game - if the first two players have chosen the same action, player 3 and all subsequent players will ignore his/her own information and start a herd, an irreversible one. In this paper we analyse the role...
