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Journal of Economic Perspectives: Vol. 10 No. 4 (Fall 1996)
JEP Volume. 10, Issue 4 | 
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Classroom Games: Information Cascades
Article Citation
Anderson, Lisa R., and
Charles A. Holt. 1996. "Classroom Games: Information Cascades."
Journal of Economic Perspectives,
10(4): 187-193.
DOI: 10.1257/jep.10.4.187
DOI: 10.1257/jep.10.4.187
Abstract
This paper describes how to set up a classroom exercise in which students see private signals and make public decisions in sequence. A pattern of conforming decisions in this context is called an information cascade. Once a cascade starts, it is rational for students to ignore their private signals and follow the pattern of previous decisions. This exercise provides an interactive framework that facilitates discussions of Bayes's rule, information, and social conformity.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Anderson, Lisa R. (American U)
Holt, Charles A. (U VA)
Holt, Charles A. (U VA)
JEL Classifications
A20: Economic Education and Teaching of Economics: General
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