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Rationales Herdenverhalten bei US-amerikanischen Rentenmarkt-Analysten: Verhaltensabstimmung durch ein externes Signal
[working paper]
Corporate Editor
Hochschule Darmstadt, FB Gesellschaftswissenschaften und Soziale Arbeit, Sonderforschungsgruppe Institutionenanalyse (sofia)
Abstract "Experimental research found contradictory results regarding the occurrence of informational cascades. Whereas Anderson and Holt (1997) confirmed the model of Banerjee (1992), and Bikhchandani, Hirshleifer, and Welch (1992) through lab tests, Huck and Oechssler 2000) came to controversial results fo... view more
"Experimental research found contradictory results regarding the occurrence of informational cascades. Whereas Anderson and Holt (1997) confirmed the model of Banerjee (1992), and Bikhchandani, Hirshleifer, and Welch (1992) through lab tests, Huck and Oechssler 2000) came to controversial results for crucial issues. This study is an extensive (227 test persons) - and as regards contents - expanded repetition. In conclusion, less than 10% of subjects are able to make deductions about predecessors’ private signals from their actions, to consider the reliability of the signals and the a priori probability, to accurately use Bayes’ Rule, and to thus reach rational decisions." (author's abstract)... view less
Keywords
group; group dynamics; influenceability; individual; behavior; decision; decision making; decision making criterion; Bayesian statistics
Classification
Social Psychology
Basic Research, General Concepts and History of Economics
Method
empirical; quantitative empirical
Document language
German
Publication Year
2006
City
Darmstadt
Page/Pages
42 p.
Series
sofia-Diskussionsbeiträge zur Institutionenanalyse, 06-4
ISSN
1439-6874
ISBN
3-933795-77-X
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne