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We investigate experimentally whether social learners appreciate the redundancy of information conveyed by the behavior of those they observe. Each experimental participant observes a private signal and enters an estimate of the sum of all earlier-moving participants' signals plus her own. In a...
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In our laboratory experiment, subjects, in sequence, have to predict the value of a good. The second subject in the … another experiment, we directly test the LRTU model and find support for it. …
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generalization of the Maximum Likelihood Updating rule. In another experiment, we directly test this theory and find support for it. …In our laboratory experiment, subjects, in sequence, have to predict the value of a good. We elicit the second subject …
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