This paper reports the results of informational cascades experiments where two different decision-making systems, anti …

In models of sequential decision making herd behaviour occurs if the signals smart(dumb) agents receive are (un …

We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information … aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually …