Information Cascades in the Laboratory¶
Anderson, L. R., & Holt, C. A. (1997). Information Cascades in the Laboratory. American Economic Review, 87(5), 847-862.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Conformity
- "If we reordered who spoke first, would the consensus survive?"
This sourceLaboratory subjects form rational cascades in 41 of 56 predicted cases, copying predecessors against their own private signals when public-signal weight dominates. (AER has no DOI; linked to the authoritative AEA/RePEc record.) Live-verified.
- "If we reordered who spoke first, would the consensus survive?"
- Information Cascade
- When public choices dominate private signals, early choices lock in trajectories.
SupportedVerified against the publisher's abstract
Anderson and Holt's abstract says coinciding early decisions make later subjects follow the pattern regardless of private signals, and cascades formed in most such periods.
“If initial decisions coincide, then it is rational for subsequent decisionmakers to follow the established pattern, regardless of their private information.”
- When public choices dominate private signals, early choices lock in trajectories.
Verification¶
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