Optimizing information in the herd: Guinea pigs, profits, and welfare (Q700131)
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scientific article; zbMATH DE number 1809700
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| English | Optimizing information in the herd: Guinea pigs, profits, and welfare |
scientific article; zbMATH DE number 1809700 |
Statements
Optimizing information in the herd: Guinea pigs, profits, and welfare (English)
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30 September 2002
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This paper evaluates the strategy of forcing a subset of agents to make their decision early from the perspective of a social planner, and a firm with a valuable or valueless product. Promotional activity by firms can be explained as an attempt to overcome the herd externality and maximize sales.
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social planner
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valuable or valueless product
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herd externality
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maximize sales
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0.6778488159179688
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0.6473822593688965
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0.6399954557418823
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0.6364026069641113
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0.6335638761520386
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