Moscarin, Giuseppe; Ottaviani, Marco; Smith, Lones - ESRC Centre for Economic Learning and Social Evolution …
In the social learning model of Banerjee [1] and Bikhchandani, Hirshleifer and Welch [2] individuals take actions sequentially after observing the history of actions taken by the predecessors and an informative private signal. If the state of the world is changing stochastically over time during...