Signal accuracy and informational cascades

We extend the Bikhchandani, Hirshleifer and Welch (1992) informational cascade framework to allow for asymmetric signal accuracy. Simulations demonstrate that even small departures from symmetry may lead to non-monotonic effects of signal accuracy on the likelihood of an inefficient cascade.

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Year of publication:	2006
Authors:	Pastine, Ivan ; Pastine, Tuvana
Publisher:	Dublin : University College Dublin, UCD School of Economics
Subject:	Learning \| Herding \| Signal Precision

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Series:	UCD Centre for Economic Research Working Paper Series ; WP06/20
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	520670876 [GVK] hdl:10419/72381 [Handle] hdl:10197/698 [Handle] RePEc:ucn:wpaper:200620 [RePEc]
Classification:	D80 - Information and Uncertainty. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10010293828