Export to your Reference Manger

Please Copy & Paste



Bookmark and Share

Informational Cascades : A Mirage?

[journal article]

Spiwoks, Markus; Bizer, Kilian; Hein, Oliver

fulltextDownloadDownload full text

(1297 KByte)

Citation Suggestion

Please use the following Persistent Identifier (PID) to cite this document:http://nbn-resolving.de/urn:nbn:de:0168-ssoar-253794

Further Details
Abstract Experimental research found contradictory results regarding the occurrence of informational cascades. Whereas Anderson and Holt (1997) confirmed the model of Banerjee (1992), and Bikhchandani et al. (1992) through lab tests, Huck and Oechssler (2000) came to contradictory results on crucial issues. This article presents experimental evidence supporting further doubts concerning "Bayesian" informational cascades: Just under two thirds of all decisions are characterized by an excessive orientation towards the private signal, and only a small number of the subjects (<6%) make rational decisions systematically and consistently.
Classification General Psychology
Free Keywords Informational cascades; Experiments; Bayes’ rule
Document language English
Publication Year 2008
Page/Pages p. 193-199
Journal Journal of Economic Behavior & Organization, 67 (2008) 1
DOI http://dx.doi.org/10.1016/j.jebo.2007.06.005
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)