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Topic: Informational cascade

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	Informational Cascades and Rational Herding, BHW
		Informational Cascades and Rational Herding: An Annotated Bibliography.
		Assumptions that are mostly technical, in that cascades are robust to their (possibly gradual) relaxation are: [3] private information that is bounded and imperfectly informative; [4] homogeneity of actors; [5] constant cost of adoption; [6] exogenous ordering.
		Informational cascades and herding arise in combination with the winner's curse.
	welch.econ.brown.edu /cascades (6819 words)

	Informational cascade - Wikipedia, the free encyclopedia
		Informational cascade is a situation in which every subsequent actor, based on the observations of others, makes the same choice independent of his/her private signal.
		In an informational cascade, everyone is individually acting rationally.
		Fragility is an integral component of an informational cascade.
	en.wikipedia.org /wiki/Informational_cascade (348 words)

	Cascade - Wikipedia, the free encyclopedia
		A cascade is a term for a waterfall, or series of waterfalls, and is applied abstractly to many different concepts involving a series of steps or effects that follow one after the other.
		Cascading Style Sheets, a language used to describe the presentation of a document written in a markup language
		Cascade, Seychelles, a district in the Republic of Seychelles
	en.wikipedia.org /wiki/Cascade (350 words)

	Adams: The Informational Turn in Philosophy
		At the foundation of information theory is the development of methods to measure the amount of information generated by an event or events, and mathematical treatments of the transmission characteristics of communication channels.
		Using informational concepts, Sayre develops a view that he calls “patterned visual response.a pattern of neuronal activity in the cortex is a set of events so ordered that the occurrence of a subset increases the probability that the remainder will occur in proportion to the size of the given subset.
		Information and truth: First, one has to shift the focus from average amounts of information carried by a communication channel and mathematical properties of such channels, to the informational value carried by a single signal about events at an informational source.
	www.udel.edu /Philosophy/papers/adams2003b.htm (12594 words)

	The University of Chicago Law School Faculty Blog: The Miers Cascade
		An informational cascade occurs when imperfectly informed people pay attention to the signals given by the views of earlier speakers or actors; those imperfectly informed people join the cascade, thus amplifying the very signals by which they were influenced.
		We are witnessing a Miers cascade, in which many people are giving negative or lukewarm signals largely because of (a) the information contained in the previous signals of others or (b) the reputational pressure to give negative or lukewarm signals.
		While participating in a cascade may be epistemologically irresponsible, whether such participation has undesirable effects depends upon whether the views expressed or withheld by Barbara and Charles are true.
	uchicagolaw.typepad.com /faculty/2005/10/the_miers_casca.html (1096 words)

	Spartanburg SC \| GoUpstate.com \| Spartanburg Herald-Journal (Site not responding. Last check: 2007-10-03)
		Informational cascade is a situation in which every subsequent actor, based on the observations of others, makes the same choice independent of his/her private signal.
		This is because the combined information of observing person 1 and person 2 go left is greater than person 3's private information that right is correct.
		Information cascades have become one of the topics of behavioral economics, are for example they are seen rather often in financial markets where they can feed speculation and create cumulative and excessive price moves, either for the whole market (market bubble...) or a specific asset, for example a stock that becomes overly popular among investors.
	www.goupstate.com /apps/pbcs.dll/section?category=NEWS&template=wiki&text=information_cascade (438 words)

	e-Literate: The Intractable Problem of Informational Cascades (Comments)
		Stephen Downes’ new column on e-Learn does a great job of showing that solving the informational cascade problem is more challenging than I had presented it to be in my own article on the topic.
		These broadcasters, themselves sharply limited in the number of sources of information they could receive (and receiving it mostly from each other) were very quick to exhibit cascade properties, and when transmitted to the population at large, exhibited a disproportionate influence.
		So while I agree with you that today’s information sources are not varied (or, at least, not varied in the right way), I disagree that the people in the fat middle of the bell curve are going to tend to vary their information sources given the choice.
	mfeldstein.com /index.php/weblog/comments/220 (2597 words)

	Diplomarbeiten Diplomarbeit Hausarbeiten Hausarbeit Doktorarbeiten Doktorarbeit Angebote Download Thema schreiben ...
		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 aim of chapter two is to provide the basics of Informational Cascades and to assure that the reader is prepared to conceive the periphery of this behaviour pattern.
	www.diplom.de /db_studentenseite/diplomarbeiten6299.html (807 words)

	Information / informational cascade and market prices. Behavioral finance glossary, peter greenfinch
		Definition: an information cascade is a snowballing / cumulative phenomenon, that starts from a tiny event, where players imitate one another instead of taking into account their own private information.
		Cascades are sometimes called rational herding as There is more rationality and consciousness in information cascades than in pure emotional herding, even if it can be called a perverse rationality.
		To call cascades "rational herding" might sometimes be justified, but it is no more the case once emotions take control.
	perso.orange.fr /pgreenfinch/bfglo/bfglo.cascade.htm (991 words)

	eLearn: Best Practices (Site not responding. Last check: 2007-10-03)
		As a small and early step in that direction, this article examines a phenomenon that behavioral economists call an "informational cascade," which is essentially a kind of logical trap that leads groups of perfectly bright, sensible people to participate in illogical "herding" behaviors such as stock-market bubbles and fashion crazes.
		As we'll see, the reason that it fails to prevent informational cascades is because the very same conditions that foster networked social learning also foster the cascades themselves.
		In an informational cascade, individuals make decisions based on the decisions of others, discounting (or failing to develop or address) their own private information or judgment.
	www.elearnmag.org /subpage.cfm?section=best_practices&article=25-1 (1746 words)

	Groupe HEC
		In this paper, we show that long run market informational inefficiency and informational cascades can easily happen when trades occur at market clearing prices.
		We consider a sequential trade model where: (i) the investors’ set of actions is discrete; (ii) dealers and investors differ in risk aversion; (iii) investors’ information is bounded.
		We show that informational cascade occurs as soon as traders’ beliefs do not differ too sharply.
	www.hec.fr /hec/fr/professeurs_recherche/r_articles_voir.php?num=260 (101 words)

	Cascade (Site not responding. Last check: 2007-10-03)
		Cascade (physics) or electron cascade, a process in physics
		Cascade is also a brand name of dishwasher detergent, made by Proctor and Gamble.
		Cascade Title Co.'s office is feeling smaller and smaller to employees as the real estate market continues to grow.
	www.governpub.com /Bee-C/Cascade.php (410 words)

	eLearn: Best Practices (Site not responding. Last check: 2007-10-03)
		A Theory of Fads, Fashion, and Cultural Change as Informational Cascades," authors Bikhchandani, Hirshleifer, and Welch suggest that the medical practice of pro-actively removing children's tonsils was the result of an informational cascade.
		For example, informational cascading is a plausible explanation for the widespread surprise when Howard Dean lost so badly in the 2004 Iowa caucus.
		Either there was not enough information available to any of the pundits for them to correctly foresee Dean's likely defeat, or the pundits who had information suggesting that Dean would lose ignored that information in favor of the previously expressed opinions of others.
	www.elearnmag.org /subpage.cfm?send_page=1§ion=best_practices&article=25-2 (1578 words)

	Informational cascade - Definition, explanation
		Informational cascade is an economic theory of rational herding based on limited information by agents.
		Informational cascades often have idiosyncratic outcomes where everyone ends up doing the wrong thing — the blind following the blind.
		Informational cascades have been used as explanations for herding not only in the context of economics, but also in the context of finance, biology, sociology, engineering, political science, and other fields.
	www.calsky.com /lexikon/en/txt/i/in/informational_cascade.php (158 words)

	[No title] (Site not responding. Last check: 2007-10-03)
		"A Theory of Fads as Informational Cascades" poses a definition of Informational Cascades: "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 without regard for his own information."
		In other words, when a perfectly rational individual obtains more information from the actions of those ahead of him than he could obtain from his own resources, he entirely disregards his own private information and follows the behavior of others.
		As a result, if the next individual is no better at obtaining private information, he will also follow the behavior suggested by the actions of others.
	www.si.umich.edu /IGD/tutorials/infocascades/t1s3.htm (165 words)

	Cascade Web Works Medford Oregon
		Community Bible Church is a nondemominational church located in Central Point, Oregon, and is a multi-generational ministry for the worship of Jesus Christ, for the personal, spiritual growth of each individual and to reach out to others with the gospel of Jesus Christ.
		Their website provides information to visitors about the church, upcoming activities, and other items that would be of interest to those seeking a church home.
		This website includes information about Omega's retirement and senior housing management, resident facility management planning and consulting, Omega's retirement living communities, and planning developing and managing senior facilities with the Omega Management Group.
	www.cascadewebworks.com (717 words)

	Lawrence Lessig
		The confident view that the President had chosen Judge Clement, like the confident view that the Chief Justice was about to retire, was clearly a process in which many people were confidently relying on unreliable people, to the point where the number of (confident) people was misleadingly high.
		As the information flows across the network it is possible that a well-connected person’s sensor data will be “double counted”.
		I think that information cascades occur when the nodes/people do not have independent ability to judge the content and decide if it is worth passing on.
	www.lessig.org /blog/archives/003029.shtml (876 words)

	Legal Information
		Information contained on the opencascade.com site is provided by Open CASCADE and may be used for informational purposes only.
		The information contained on this website is copyrighted and may not be distributed, modified, or reproduced in whole or in part without the prior written permission of Open CASCADE.
		Open CASCADE is not responsible for the content of any other website which you may access from this site.
	www.opencascade.com /about/legal (147 words)

	CEPR Discussion Paper Abstracts (Site not responding. Last check: 2007-10-03)
		In case early movers’ signals happen to be incorrect society may settle on a common inefficient action, resulting in an inefficient informational cascade.
		This is the first paper with homogenous access to information that gives an analytical approximation for the probability of inefficient cascades.
		In contrast to the general impression in the literature, the effect of an increase in signal quality on the likelihood of an inefficient cascade is shown to be non-monotonic.
	www.cepr.org /pubs/new-dps/dplist.asp?dpno=5120 (284 words)

	China Doll: Web Archives (Site not responding. Last check: 2007-10-03)
		Evolving Trends has demonstrated that all those social bookmarking portals are indeed being built upon a wrong cascade where individual rationality may be easily overshadowed by the “wisdom of the crowd”.
		And all it takes to develop a wrong informational cascade is a small amount of original information followed by imitations.
		In this age of mass data falsification (don’t call it “lies”), we have to be wary of cascades especially when governments are particularly good at using them to sway public opinions.
	hollymolly.net /ca/web (1096 words)

	e-Literate: Full Context: Democratic Primaries as an Informational Cascade (Comments)
		I have been digging more into the subject of informational cascades as I work on editing my submission to eLearn on “emergent learning” (which I’m going to refer to as social learning instead, given the current lack of agreement about what “emergent learning” means).
		Many of the best insights are buried in heavily mathematical academic papers on efficient market theory; but every once and a while you run across a gem that’s written to a broader audience.
		As William Dulker points out in his Full Context weblog, Slate’s William Saletan provides a wonderful, easy-to-understand example of an informational cascade in the Democratic primaries.
	mfeldstein.com /index.php/weblog/comments/64 (334 words)

	Dissent and whistleblowing
		In one type of social cascade, an informational cascade, people base their beliefs not on what they know themselves but on what other people do or say.
		The result can be an appearance of unanimity when actually the information base is limited.
		Another sort of cascade occurs when people know that a belief is wrong but nonetheless go along with the majority in order to keep in their good books.
	www.uow.edu.au /arts/sts/bmartin/pubs/04BRwhistle09.html (693 words)

	Learning, Cascades and Transaction Costs
		Both fixed and proportional transaction costs reduce the informational content of trading orders and lead to informational cascades.
		If transaction costs are very high, an informational cascade can occur not only when beliefs converge to a specific asset value, but also when in the market there is complete uncertainty about the asset's fundamental value.
		Finally, if the asset value in the bad state is sufficiently low, proportional transaction costs lead to an informational cascade only when prices are very high.
	ideas.repec.org /p/sef/csefwp/123.html (341 words)

	Rational design of a bacterial transcriptional cascade for amplifying gene expression capacity -- Cebolla et al. 29 ...
		Capacity for regulation of simple circuits and with two cascades using a different hierarchy of upstream and downstream regulators.
		Analysis of a cascade circuit with nahR4/Psal leading to the expression of wild-type xylS in P.putida.
		31 Egan,S.M. and Schleif,R.F. (1993) A regulatory cascade in the induction of rhaBAD.
	nar.oxfordjournals.org /cgi/content/full/29/3/759 (4699 words)

	Cascade Cadets Soccer - (Clayton, IN) - powered by LeagueLineup.com
		The website that Coach Calvert spoke to everyone about at the Parent/Coaches meeting is the NCAA Clearing House.
		This site will provide information about initial-eligibility at NCAA Division I and II member colleges and universities.
		Included on the CHS Soccer Teams Links Page is the direct link to the 48 page brochure so those interested do not have to go page by page to get to the information.
	www.leaguelineup.com /welcome.asp?url=chssoccerteams (119 words)

	CEPR Discussion Paper Abstracts (Site not responding. Last check: 2007-10-03)
		In an observational learning environment, rational agents with incomplete information may mimic the actions of their predecessors even when their own signal suggests the opposite.
		This paper analyses the effect of signal accuracy on the probability of an inefficient informational cascade.
		The literature so far has suggested that an increase in signal accuracy leads to a decline in the probability of inefficient herding, because the first movers are more likely to make the correct choice.
	www.cepr.org /pubs/new-dps/dplist.asp?dpno=5219 (268 words)

	John Locke Foundation \| Informational Links
		Locate here information on the number of returns filed with IRS, as well as the collections received by, and the refunds paid by, the IRS.
		Contains prepared statements made by senior Cato policy staff members before Congress, conference and lecture information, a gateway to an extensive database of policy analysis reports, an on-line book catalog, and more.
		OCPA's mission is to accumulate, evaluate, and disseminate public policy ideas and information for Oklahoma consistent with the principles of free enterprise, limited government, and individual initiative.
	www.johnlocke.org /links (1514 words)

	Signalling in the Yeasts: An Informational Cascade with Links to the Filamentous Fungi -- Banuett 62 (2): 249 -- ...
		A transcription factor with similarity to mammalian ATF2 is the target of the MAPK cascade.
		Stepwise induction of mating and meiosis by nitrogen starvation and pheromones.
		The MAPK cascade is activated by Pkc1 (Fig.
	mmbr.asm.org /cgi/content/full/62/2/249 (9769 words)

	Informational cascades elicit private information
		Next, we show how an informational cascade makes truthtelling incentive compatible.
		The more precise the sender’s information, the higher her incentives to truthfully reveal her private information.
		Information about this may be contained in the File-Format links below.
	ideas.repec.org /p/lec/leecon/03-6.html (351 words)

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