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Rational herds.. Economic models of social learning (ISBN 052182401X)

Rational herds.. Economic models of social learning (ISBN 052182401X)

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Penguins jumping off a cliff, economic forecasters predicting a recovery in the business cycle, financial advisors for the stock market speculating against a currency, and farmers using new seeds in India are all practicing social learning. Such learning from the behavior of others can lead to herds, crashes, and booms. These issues have become, over the last ten years, an exciting field of research in theoretical and applied economics, finance, and other social sciences. This book provides both an informal introduction and in-depth insights into the most recent advances.

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