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truthfully reveal type. In the standard "herding" model, the agents learn from each other's decisions, which can lead to cascades … on a given decision when later agents' private information is swamped. We augment the standard model to allow the …
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and retard the production of information. Herding can thus produce negative externalities. And in such situations … less chosen. Anti-herding regulation provides a new means to attend to ways that mimicry can both suppress the production …
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