Aggregate information cascades
Abstract
We introduce a new model of aggregate information cascades where only one of two possible actions is observable to others. Agents make a binary decision in sequence. The order is random and agents are not aware of their own position in the sequence. When called upon, they are only informed about the total number of others who have chosen the observable action before them. This informational structure arises naturally in many applications. Our...
Paper Details
Title
Aggregate information cascades
Published Date
Sep 1, 2011
Journal
Volume
73
Issue
1
Pages
167 - 185
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