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Informational Cascades with Continuous Action Spaces

  • Steffen Huck

    (Humboldt University, Berlin)

  • Joerg Oechssler

    (Humboldt University)

The recent literature on informational cascades has nurtured the impression that cascades can occur only if the action space is coarser than the signal space. In particular, it is sometimes claimed that with continuous action spaces cascades are impossible. In this note we present a simple counter-example showing that this conclusion is not necessarily warranted.

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Paper provided by EconWPA in its series Game Theory and Information with number 9710002.

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Length: 6 pages
Date of creation: 13 Oct 1997
Date of revision:
Handle: RePEc:wpa:wuwpga:9710002
Note: pages: 6
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  1. Gul, Faruk & Lundholm, Russell, 1995. "Endogenous Timing and the Clustering of Agents' Decisions," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 1039-66, October.
  2. Vives, X..A., 1995. "Social Learning and Rational Expectations," UFAE and IAE Working Papers 305.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. repec:tpr:qjecon:v:107:y:1992:i:3:p:797-817 is not listed on IDEAS
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