Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment
Marco Angrisani,
Antonio Guarino,
Philippe Jehiel () and
Toru Kitagawa
American Economic Journal: Microeconomics, 2021, vol. 13, issue 3, 163-97
Abstract:
We study social learning in a continuous action space experiment. Subjects, acting in sequence, state their beliefs about the value of a good after observing their predecessors' statements and a private signal. We compare the behavior in the laboratory with the Perfect Bayesian Equilibrium prediction and the predictions of bounded rationality models of decision-making: the redundancy of information neglect model and the overconfidence model. The results of our experiment are in line with the predictions of the overconfidence model and at odds with the others'.
JEL-codes: C91 D12 D82 D83 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (4)
Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/mic.20180394 (application/pdf)
https://doi.org/10.3886/E111281V1 (text/html)
https://www.aeaweb.org/doi/10.1257/mic.20180394.appx (application/pdf)
https://www.aeaweb.org/doi/10.1257/mic.20180394.ds (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.
Related works:
Working Paper: Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment (2021)
Working Paper: Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment (2021)
Working Paper: Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment (2019) 
Working Paper: Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment (2019) 
Working Paper: Information redundancy neglect versus overconfidence: a social learning experiment (2018) 
Working Paper: Information redundancy neglect versus overconfidence: a social learning experiment (2017) 
Working Paper: Information redundancy neglect versus overconfidence: a social learning experiment (2017) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:aea:aejmic:v:13:y:2021:i:3:p:163-97
Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions
DOI: 10.1257/mic.20180394
Access Statistics for this article
American Economic Journal: Microeconomics is currently edited by Johannes Hörner
More articles in American Economic Journal: Microeconomics from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().