Herding differently: A level-k model of social learning
AbstractThis paper proposes a behavioral model of social learning that unies various forms of inferential reasoning in one hierarchy of types. Iterated best responses that are based on uninformative level-0 play lead to the following of the private information (level-1), to the following of the majority (level-2), to a differentiated view on predecessors (level-3), etc. I present evidence from three sources that these are the prevalent types of reasoning in social learning: a review of social learning studies, existing data from Celen and Kariv (2004) as well as new experimental data that includes written accounts of reasoning from incentivized intra-team communication.
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Bibliographic InfoPaper provided by University of Mannheim, Department of Economics in its series Working Papers with number 13-01.
Date of creation: 2013
Date of revision:
Social learning ; levels of reasoning;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-03 (All new papers)
- NEP-CBE-2013-02-03 (Cognitive & Behavioural Economics)
- NEP-EVO-2013-02-03 (Evolutionary Economics)
- NEP-EXP-2013-02-03 (Experimental Economics)
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