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, contrary to theory, public signals are equally persuasive as private ones under strategic substitutes. Senders respond to this …
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In an information cascade experiment participants are confronted with artificial predecessors predicting in line with the BHW model (Bikchandani et al. 1992). Using the BDM (Becker et al., 1964) mechanism we study participants' probability perceptions based on maximum prices for participating in...
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