A theory is said to be fully absorbable whenever its own acceptance by all of the individuals belonging to a certain population does not question its predictive validity. This accounts for strategic equilibria and can be related to the logic underlying convergence of behaviour and intentional...

Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to 'destroy' information in order to achieve social improvements. Although in the last years many features of herd behaviour and informational cascades have been...

Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar analysis which relies on pricing data instead of...