Information Cascades: Replication and an Extension to Majority Rule and Conformity-Rewarding Institutions

By Angela A. Hung, Charles R. Plott. 2001

327 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Management Science and Operations Research, Safety Research

View Paper: https://www.semanticscholar.org/paper/573171529c563406161def5130d842c4122e4059

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Citations in the corpus

Herd Behaviour and Cascading in Capital Markets: A Review and Synthesis (2003, background): “Also, a growing literature starting with Anderson and Holt (1996) has confirmed learning by observing actions, and the existence of informational cascades in the experimental laboratory (see also Hung and Plott, 2001; Anderson, 2001; Sgroi, 2000; Celen and Kariv, 2001).”
Herding and Contrarian Behavior in Financial Markets: An Internet Experiment (2005, background): “, Lakonishok et al., 1994, or La Porta et al., 1998). The internet experiment we report on in this paper was designed to address the following objectives. First, we want to test the theory of informational cascades in financial markets as introduced by AZ by taking the theory at face value. To have ”
Distinguishing Informational Cascades from Herd Behavior in the Laboratory (2004, background): “From this distinction it is clear that informational cascades, which are an unobservable phenomenon de…ned with respect to beliefs, is much harder to verify 2 For applications in business strategy, consumer marketing, politics and more, see Bikhchandani, Hirshleifer and Welch (1998).”
Market Watch: Information and Availability Cascades Among the Media and Investors in the U.S. IPO Market (2008, background): “…and fairness of the outlying organization’s reporting.3 In sum, the combined effect of the uncertainty surrounding journalistic work and the rewards for making choices consistent with the majority’s choices produces the conditions associated with the emergence of cascades (Hung & Plott, 2001).”
Information Aggregation Mechanisms: Concept, Design and Implementation for a Sales Forecasting Problem (2002, background): “…by demonstrations of markets that can equilibrate at patterns that are not fully revealing of information such as cascades (Anderson and Holt, 1997; Hung and Plott, 2001) or misleading such as mirages (Camerer and Wiegelt, 1991) or bubbles ( Smith et al, 1988; King et al. 1993; Porter and Smith,…”
Endogenous Overconfidence in Managerial Forecasts (2011, background): “Hung and Plott (2001), for example, report that the subjects in their experimental setting placed excessive weight on free private information, and Huck and Oechssler (2000) report that the heuristic “follow your (private) signal” explains observed behavior better than Bayes’ law.”
Foraging nine-spined sticklebacks prefer to rely on public information over simpler social cues (2005, background): “The informational cascade framework originated in economics (Bikhchandani et al., 1992, 1998), and the majority of studies on this topic have been devoted to humans (Anderson and Holt, 1996, 1997; Hung and Plott, 2001 ).”