Fragile, Error-Prone And Idiosyncratic Behaviour: Informational Cascades.pdf

Fragile, Error-Prone And Idiosyncratic Behaviour: Informational Cascades PDF

Andreas Heller

Macroeconomics deals with the behaviour of the economy altogether and concentrates on fundamental and actual economic problems. Microeconomics deals with the behaviour of individuals and the aggregation of their actions in different institutional frameworks. Thus, both micro- and macroeconomics are doctrines to describe and understand individuals behaviour, activities and outcomes. So, why does one try to better understand? Individuals are curious , is a popular explanation. Another is that understanding may lead to a better outcome for individuals. There exist a lot of patterns of behaviour. One behaviour pattern is the so-called uniform behaviour. Imitation and mimicry belong to the basic instincts of every human being. Indeed, these patterns do not make immediate sense in terms of traditional macro- or microeconomic models. Still, they may be rational for an individual or a group of individuals. Learning by observing other individuals past actions and decisions may be of help to explain some otherwise puzzling phenomena about human behaviour. Apprehending individuals behaviour is not straightforward. It is not only profit or utility maximising that drives individuals minds. Sometimes, individuals just act because others act. An Informational Cascade is a situation in which every subsequent individual, based on the observation of others, makes the same choice or decision independent of his private information. Informational Cascades are present in our everyday life and in fields such as Economics, Politics, Scientific Theory, Finance or Zoology. The fact that this phenomenon does appear in innumerable situations is my motivation to closer examine Informational Cascades.
Economics and above all economic behaviour is more than Statistics or Mathematics. It is Anthropology and Psychology as well.
To combine and describe economics with the behaviour patterns of human beings, above all Informational Cascades and its environment , is the base of my licentiate.
To link this phenomenon to economics and to bring it in an economic context, one has to grasp what exactly an Informational Cascade does describe. Why can one define an Informational Cascade as a gap between the practiced and the preached? Definitions and a simple example are given at the beginning of chapter two, followed by a characterisation of an Informational Cascade.
The characterisation deals with the brittleness, idiosyncrasy and the error-sensitivity of [...]

eBook Shop: Fragile, Error-Prone And Idiosyncratic Behaviour: Informational Cascades von Andreas Heller als Download. Jetzt eBook herunterladen & mit Ihrem Tablet oder eBook Reader lesen. Fragile, Error-Prone And Idiosyncratic Behaviour ...

3832462996 ISBN
Englisch SPRACHE
Fragile, Error-Prone And Idiosyncratic Behaviour: Informational Cascades.pdf


PC und Mac

Lesen Sie das eBook direkt nach dem Herunterladen über "Jetzt lesen" im Browser, oder mit der kostenlosen Lesesoftware Adobe Digital Editions.

iOS & Android

Für Tablets und Smartphones: Unsere Gratis tolino Lese-App

Andere eBook Reader

Laden Sie das eBook direkt auf dem Reader im herunter oder übertragen Sie es mit der kostenlosen Software Sony READER FOR PC/Mac oder Adobe Digital Editions.


Öffnen Sie das eBook nach der automatischen Synchronisation auf dem Reader oder übertragen Sie es manuell auf Ihr tolino Gerät mit der kostenlosen Software Adobe Digital Editions.

Aktuelle Bewertungen

Sofia Voigt

16 Sep 2005 ... I review theory and empirical evidence on herd behaviour by banks. ... Systemic risk and failure cost, however, may rise, and the individual bank ... Most of the literature on herding and informational cascades builds upon ... is fragile, in that it may break easily with the arrival of some trigger (for example, new. 26 Sep 2002 ... widespread conformity deprives the public of information that it needs to have. ... social science evidence involving, respectively, conformity, cascades, and group ... and to any reasonable person, a clear error, matching the line at issue to ... and practices as rules of conduct on those who dissent from them .

Matteo Müller

(PDF) A Theory of Fads, Fashion, Custom, and … A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades Article (PDF Available) in Journal of Political Economy 100(5):992-1026 · October 1992 with 1,504 Reads

Noel Schulze | Universität Bern

Jason Lehmann

Abstract. This paper examines the occurrence and fragility of information cascades in two ... cascade models, the convergence of behavior is idiosyncratic and fragile. ... The estimated error-rate model does not impose the rational expectations.

Jessica Kohmann

Kupte knihu Fragile, Error-Prone And Idiosyncratic Behaviour (Andreas Heller) s 5 % slevou za 1815 Kč v ověřeném obchodě. Prolistujte stránky knihy, přečtěte si recenze čtenářů, nechte si doporučit podobnou knihu z nabídky více než 15 miliónů titulů. Idiosyncratic Official Site - Idiosyncratic