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Informational Cascades : A Mirage?


Spiwoks, Markus; Bizer, Kilian; Hein, Oliver


Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-253794

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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.
Klassifikation Allgemeine Psychologie
Freie Schlagwörter Informational cascades; Experiments; Bayes’ rule
Sprache Dokument Englisch
Publikationsjahr 2008
Seitenangabe S. 193-199
Zeitschriftentitel Journal of Economic Behavior & Organization, 67 (2008) 1
DOI http://dx.doi.org/10.1016/j.jebo.2007.06.005
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)