Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment

Marco Angrisani, Antonio Guarino, Philippe Jehiel () and Toru Kitagawa
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Marco Angrisani: USC - University of Southern California
Toru Kitagawa: UCL - University College of London [London]

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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'.

Date: 2021-08
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Citations: View citations in EconPapers (3)

Published in American Economic Journal: Microeconomics, 2021, 13 (3), pp.163-197. ⟨10.1257/mic.20180394⟩

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Related works:
Journal Article: 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)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03325779

DOI: 10.1257/mic.20180394

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