Are Longer Cascades More Stable?
基于多个实验室的级联博弈实验数据，发现参与者更愿意跟随更大的群体，且级联长度与强度正相关，即使这与理论预测相悖。
Yes, they are. We consider data from experimental cascade games that were run in different laboratories, and find uniformly that subjects are more willing to follow the crowd, the bigger the crowd is �although the decision makers who are added to the crowd should in theory simply follow suit and hence reveal no information. This correlation of length and strength of cascades appears consistently across games with different parameters and different choice sets for the subjects. It is also observed in games where it runs counter to the theoretical prediction, so behavior moves away from equilibrium play over the stages of the games.