A theory of Fads, Fashion, Custom and cultural change as informational Cascades

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  • 1 January 2010
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      • Published in RePEc
Abstract
An informational cascade occurs when it is optimal for an individual, having observed the actions of those ahead of him, to follow the behavior of the preceding individual with regard to his own information. The authors argue that localized conformity of behavior and the fragility of mass behaviors can be explained by informational cascades. Copyright 1992 by University of Chicago Press. (This abstract was borrowed from another version of this item.)
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