Difference between revisions of "Information cascade"

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An '''information cascade''' occurs when people signal that they have information about something, but actually based their judgment on other people's signals, resulting in a self-reinforcing community opinion that does not necessarily reflect reality.
 
An '''information cascade''' occurs when people signal that they have information about something, but actually based their judgment on other people's signals, resulting in a self-reinforcing community opinion that does not necessarily reflect reality.
  

Revision as of 08:31, 10 July 2009

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An information cascade occurs when people signal that they have information about something, but actually based their judgment on other people's signals, resulting in a self-reinforcing community opinion that does not necessarily reflect reality.

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Information Cascades by Johnicholas