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 private information. This study uses event-related...

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 private information. This study uses event-related...

Purpose – The purpose of this paper is to better depict the features of individual and group behaviors in sequential decisions under the effect of public belief drift. Design/methodology/approach – In this paper, the authors design a two‐shots game which is closer to decisions condition in...