Conformity in the lab

@inproceedings{Goeree2007ConformityIT,
  title={Conformity in the lab},
  author={Jacob K. Goeree and Leeat Yariv},
  year={2007}
}
We use a revealed preference approach to disentangle conformity, an intrinsic taste to follow others, from information driven herding. We provide observations from a series of sequential decision making experiments in which subjects choose the type of information they observe before making their decision. Namely, subjects choose between observing a private (statistically informative) signal or the history of play of predecessors who have not chosen a private signal (i.e., a statistically… CONTINUE READING
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