Information Cascades and Social Learning
133 Pages Posted: 24 May 2021
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Information Cascades and Social Learning
Number of pages: 133
Posted: 24 May 2021
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Information Cascades and Social Learning
NBER Working Paper No. w28887
Number of pages: 77
Posted: 07 Jun 2021
Last Revised: 07 Jun 2023
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29
Date Written: May 23, 2021
Abstract
We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated and accessible way the more important themes, insights and applications of the literature as it has developed over the last thirty years. We also highlight open questions and promising directions for further theoretical and empirical exploration.
Keywords: Information Cascades, Social Learning, Herding, Fads, Fashion, Conformity, Culture
JEL Classification: D8, D7, D9
Suggested Citation: Suggested Citation
Bikhchandani, Sushil and Hirshleifer, David A. and Tamuz, Omer and Welch, Ivo, Information Cascades and Social Learning (May 23, 2021). Available at SSRN: https://ssrn.com/abstract=3851678 or http://dx.doi.org/10.2139/ssrn.3851678
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