Information Redundancy Neglect versus Overconfidence: A Social Learning Experiment
通过连续行动空间实验，研究个体在观察前人陈述和私人信号后如何形成信念，发现过度自信模型比信息冗余忽视模型和完美贝叶斯均衡更能解释实际行为。
We study social learning in a continuous action space experiment. Subjects, acting in sequence, state their beliefs about the value of a good after observing their predecessors’ statements and a private signal. We compare the behavior in the laboratory with the Perfect Bayesian Equilibrium prediction and the predictions of bounded rationality models of decision-making: the redundancy of information neglect model and the overconfidence model. The results of our experiment are in line with the predictions of the overconfidence model and at odds with the others’.