Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92784
Authors: 
Sasaki, Shunichiro
Kawagoe, Toshiji
Year of Publication: 
2007
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 690
Abstract: 
We conducted a field experiment on the Internet and investigated the participants' belief updating in an individual learning environment where they observe a sequence of private signals and in a social learning environment where they observe a sequence of other people's actions. We observed that participants do not update their posterior beliefs as efficiently as Bayesian, and that participants rely more on private signals than on other people's actions even when the informativeness of both is identical. Furthermore, we confirmed that participant's trust in other people's actions and their conformity to other people's actions are affected by their demographic characteristics.
Subjects: 
belief updating
individual learning
social learning
field experiment
conformity
JEL: 
C93
D83
Document Type: 
Working Paper

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