Learning from the behavior of others

Bikhchandani, S., Hirshleifer, & Welch, I. (1998). Learning from the behavior of others: Conformity, fads, and informational cascades. Journal of Economic Perspectives, 12(3), 151-170.

Type

Journal article

Intellectual base

Primary research

Year

1998

Link

https://doi.org/10.1257/jep.12.3.151verified

Cited from

behavioral_economics

Cited by

1 citation across 1 artifact.

Each citation links to the sentence it supports in the citing article.

Primes

• Information Cascade
  • It separates two information regimes (private signals visible only to the individual; public choices visible to all) and names the mechanism by which public choices override private signals, as Bikhchandani, Hirshleifer, and Welch (1998) survey across applications.

    This sourceSurvey of cascade mechanism across domains: develops the two-regime structure (private vs. public information) and shows how observed choices override private signals across markets, organizations, and culture.

Verification

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