We designed four observational learning experiments to identify the key channels that, along with Bayes … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in …

We analyze a game theoretic model of social learning about a consumption good with endogenous timing and heterogeneous … increase the probability of herding on consumption of both high and low quality goods …

We report two information cascade game experiments that directly test the impact of altruism on observational learning … substantial public information which increases the earnings of participants. In Experiment 2, participants have better … opportunities to learn about the strategies played by observed which amplifies the impact of altruism on observational learning. …

There are many important decision problems where learning through experimentation is costly or impossible. In these …. In this paper, we design an investment game which allows us to study the influence of selection when learning from others … degree of bias due to selection neglect increases when other decision makers become more informed, or become more rational …

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 …

, improvements in decision quality cease. A literature on word-of-mouth learning shows how observation of outcomes as well as actions … the cascades/herding literature. In a setting which adds 'conversational' learning about both the payoff outcomes of … though they can discuss the outcomes of their choices. Models of informational herding or cascades have examined how rational …

ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable … of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment … understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning …

We study perfect Bayesian equilibria of a sequential social learning model in which agents in a network learn about an … neighbors are mutually independent. We introduce a new metric of information diffusion in social learning, which is weaker than …