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Information Cascades and Social Learning

Bikhchandani, Sushil and Hirshleifer, David and Tamuz, Omer and Welch, Ivo (2021) Information Cascades and Social Learning. . (Unpublished)

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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.

Item Type:Report or Paper (Discussion Paper)
Related URLs:
URLURL TypeDescription Paper
Bikhchandani, Sushil0000-0003-0554-072X
Hirshleifer, David0000-0003-0280-8882
Tamuz, Omer0000-0002-0111-0418
Welch, Ivo0000-0002-4347-7250
Additional Information:We thank the editor, Steven Durlauf; and three anonymous referees for very helpful comments.
Subject Keywords:Information Cascades, Social Learning, Herding, Fads, Fashion, Conformity, Culture
Classification Code:JEL Codes: D8 Information, Knowledge, and Uncertainty, D7 Analysis of Collective Decision-Making, D9 Micro-Based Behavioral Economics
Record Number:CaltechAUTHORS:20220707-170537442
Persistent URL:
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:115367
Deposited By: George Porter
Deposited On:07 Jul 2022 19:25
Last Modified:07 Jul 2022 19:25

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