associated with information cascade during sequential decision-making. In our experiment, a participant receives a private signal …When a sequence of decision makers with private information announce public predictions, initial conformity can create … an information cascade in which all future decision makers will rationally match the early announcements and disregard …

associated with information cascade during sequential decision-making. In our experiment, a participant receives a private signal …When a sequence of decision makers with private information announce public predictions, initial conformity can create … an information cascade in which all future decision makers will rationally match the early announcements and disregard …

/value This implication can be extendable in the field of marketing, sequential voting, and technology, or innovation adoption.  …

-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in … actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …-Bayesian updating and informational misinferences are the two channels that drive excessive herding, while the strong (resp. mild …