Conformity in the lab

• Published in: Journal of the Economic Science Association Vol. 1; no. 1; pp. 15 - 28
• Main Authors: Goeree, Jacob K., Yariv, Leeat
• Format: Journal Article
• Language: English
• Published: New York Springer US 01.07.2015
• Subjects: Behavioral/Experimental Economics; Economic Theory/Quantitative Economics/Mathematical Methods; Economics; Economics and Finance; Game Theory; Microeconomics; Operations Research/Decision Theory; Original Paper; Social and Behav. Sciences; Social learning; C91; D70; Conformity; D80; Strategic voting

We use a revealed preference approach to disentangle conformity, an intrinsic taste to follow others, from information-driven herding. We provide observations from a series of sequential decision-making experiments in which subjects choose the type of information they observe before making their dec...