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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18014| Title: | A Simple Note on Informational Cascades |
| Keywords: | D62 C91 ddc:330 Informational cascades information externality individual decision making experiment Herdenverhalten Informationsverhalten Externer Effekt Entscheidungstheorie Experiment |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | 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 studied, this particular aspect has never been extensively analysed. In this article we try to fill this gap, investigating both theoretically and experimentally whether and to which extent destroying information can improve welfare. Our empirical results show that this decisional mechanism actually leads to a behaviour pattern more consistent with the theory that in turn produces the predicted efficiency gain. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18014 |
| Other Identifiers: | Economics: The Open-Access, Open-Assessment E-Journal 2 2008-1 1-21 doi:10.5018/economics-ejournal.ja.2008-1 doi:10.5018/economics-ejournal.ja.2008-1 http://hdl.handle.net/10419/18014 ppn:557347807 http://www.economics-ejournal.org/economics/journalarticles/2008-1 RePEc:zbw:ifweej:6905 |
| Appears in Collections: | EconStor |
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