In this paper, the authors continue the pursuit of the self-coordination mechanism as studied in the El Farol Bar problem. However, in addition to efficiency (the optimal use of the public facility), they are also interested in the distribution of the public resources among all agents. Hence,...

We find that firms are more likely to split their stock if their peer firms have recently done so. The effect is comparable to an increase of 40-50% in the share price. Splitting probability is also increasing in the announcement returns of peer splits. These results are consistent with social...

Social learning can occur when information is transferred from existing customers to potential customers. It is especially important when the information that is conveyed pertains to experience attributes, i.e., attributes of products that cannot be fully verified prior to the first purchase....