observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …We designed four observational learning experiments to identify the key channels that, along with Bayes … actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …

withdrew money one month prior to the events. Thedegree of herding among funds is statistically significant, but moderate.Herding …

We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

We report two information cascade game experiments that directly test the impact of altruism on observational learning … opportunities to learn about the strategies played by observed which amplifies the impact of altruism on observational learning. …

The paper employs a dynamic market-wide herding behavior measure of 117,166 lending-based campaigns in 119 online … show that herding behavior plays an important signaling role in reducing opportunity costs if the auction does not receive … enough monetary bids. Additionally, our threshold models identify significant herding behavior after funding goals are raised …

The adaptive learning approach has been fruitfully employed to model the formation of aggregate expectations at the … macroeconomic level, as an alternative to rational expectations. This paper uses adaptive learning to understand, instead, the … sentiment, defined as the degrees of excess optimism and pessimism that cannot be justified by the near-rational learning model …

buyers are naive. Using secret discounts the seller successfully interferes with social learning, and herding occurs in …We consider a monopolist who sells identical objects of common but unknown value in a herding-prone environment. Buyers … monopolist s optimal pricing strategy and its implications for the temporal pattern of prices and for herding. The analysis is …