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RATIONAL GROUPTHINK

delete2020-07-08
delete18
delete
OA
AI
M
Matan Harel *
E
Elchanan Mossel
P
Philipp Strack
O
Omer Tamuz
DOI：10.1093/qje/qjaa026delete
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摘要

摘要

En 中文
We study how long-lived rational agents learn from repeatedly observing a private signal and each others' actions. With normal signals, a group of any size learns more slowly than just four agents who directly observe each others' private signals in each period. Similar results apply to general signal structures. We identify rational groupthink-in which agents ignore their private signals and choose the same action for long periods of time-as the cause of this failure of information aggregation.
Keyword:
INFORMATION AGGREGATION
PERCOLATION
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期刊

Quarterly Journal of Economics 封面图
Quarterly Journal of Economics
IF:
12.7
论文数:
1.2K
被引数:
4.1W

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C
California Institute of Technology
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2.9W
论文数: 2.5W
被引数: 4.9W
Y
Yale University
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6.5W
论文数: 6.0W
被引数: 10.0W
T
Tel Aviv University
学者数:
3.7W
论文数: 3.0W
被引数: 3.6W
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