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Search Results for Collection: Economics Working Papers & Policy Papers, 1982 -- August 2011
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Social learning in continuous time : when are informational cascades more likely to be inefficient? (University College Dublin. School Of Economics, 2006-11)In an observational learning environment rational agents may mimic the actions of the predecessors even when their own signal suggests the opposite. In case early movers’ signals happen to be incorrect society may settle ...
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(University College Dublin. School Of Economics, 2006-11)We extend the Bikhchandani, Hirshleifer and Welch (1992) informational cascade framework to allow for asymmetric signal accuracy. Simulations demonstrate that even small departures from symmetry may lead to non-monotonic ...
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