On the role of responsiveness in rational herds

DOI10.1016/J.ECONLET.2017.11.029MaRDI QIDQ1787283zbMATH OpenOpenAlexFDO

Authors Yanyan Li

Publication date 5 October 2018

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.econlet.2017.11.029

zbMATH Keywords

herdingobservational learningresponsivenesssocial learning

Mathematics Subject Classification ID

Memory and learning in psychology (91E40)

Recommendations

• Herding with costly information
• Informational herding, optimal experimentation, and contrarianism
• Pathological Outcomes of Observational Learning
• The speed of sequential asymptotic learning
• Social learning equilibria

Cites work

• A Mechanism for Eliciting Probabilities
• Congested observational learning
• Elicitation of Personal Probabilities and Expectations
• Extensive imitation is irrational and harmful
• Financial crises as herds: overturning the critiques
• How Fast do Rational Agents Learn?
• Inferring beliefs from actions
• Informational cascades with continuous action spaces
• On the convergence of informational cascades
• Optimal Learning by Experimentation
• Pathological Outcomes of Observational Learning
• Payoff externalities and social learning
• Social learning with private and common values

Cited in

(6)

• Herding with costly information
• Altruistic observational learning
• Herding as a learning system with edge-of-chaos dynamics
• scientific article; zbMATH DE number 5603010 (Why is no real title available?)
• A simple model of herd behavior, a comment
• Beyond unbounded beliefs: how preferences and information interplay in social learning

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