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Information Cascades and Rational Conformity - Information Cascades, Herding Behaviour, Conformity, Bayes' Rule, Rationality (2000)
by
Lisa Anderson
,
Lisa R. Anderson
,
Charles A Holt
BibTeX
@MISC{Anderson00informationcascades,
author = {Lisa Anderson and Lisa R. Anderson and Charles A Holt},
title = {Information Cascades and Rational Conformity - Information Cascades, Herding Behaviour, Conformity, Bayes' Rule, Rationality},
year = {2000}
}
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Abstract
This paper provides an intuitive explanation of the mathematical expression of Bayes' rule.) Of course it is intuitively obvious that the probability of urn B is greater than when the signal is b. Holt and Anderson (1996) show that the probability of urn B is still greater than when first two predictions are B and the third person's signal is a
