Signal accuracy and informational cascades

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Title: Signal accuracy and informational cascades
Authors: Pastine, Tuvana
Pastine, Ivan
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Date: Nov-2006
Abstract: We extend the Bikhchandani, Hirshleifer and Welch (1992) informational cascade framework to allow for asymmetric signal accuracy. Simulations demonstrate that even small departures from symmetry may lead to non-monotonic effects of signal accuracy on the likelihood of an inefficient cascade.
Type of material: Working Paper
Publisher: University College Dublin. School Of Economics
Copyright (published version): 2006 School Of Economics, University College Dublin
Keywords: Learning;Signal Precision;Herding
Subject LCSH: Information behavior--Mathematical models
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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