Social learning with private and common values
Social learning with private and common values
复制标题
具有私人和共同价值观的社会学习
DOI：
10.1007/s00199-005-0642-5
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发表时间：
2006
期刊：
影响因子：
1.3
通讯作者：
Brian W. Rogers
中科院分区：
文献类型：
--
作者：
J. Goeree;T. Palfrey;Brian W. Rogers
总结：我们考虑一个环境，在这个环境中，个体在几个行为中依次选择。个人的收益取决于他的行为选择、世界的状态以及一种特殊的、私下观察到的偏好冲击。在弱条件下，随着个体数量的增加，选择的顺序总是揭示世界的状态。这与纯公共价值环境中的常见结果形成对比，在纯公共价值环境中，状态从未被学习过，从而导致群体或信息级联。收敛的中期动态可能非常复杂和非单调：后验信念可能长时间集中在错误的状态，突然转向正确的状态。
Summary.We consider an environment where individuals sequentially choose among several actions. The payoff to an individual depends on her action choice, the state of the world, and an idiosyncratic, privately observed preference shock. Under weak conditions, as the number of individuals increases, the sequence of choices always reveals the state of the world. This contrasts with the familiar result for pure common-value environments where the state is never learned, resulting in herds or informational cascades. The medium run dynamics to convergence can be very complex and non-monotone: posterior beliefs may be concentrated on a wrong state for a long time, shifting suddenly to the correct state.