Information Cascades:
Does knowing other people’s decisions if you are not the first to choose improve the accuracy of your choice? Why or why not?
How could you get subjects to accurately report how they have used other’s decisions in making their own?
Expert Answer
1.Knowing other people’s decisions if you are not the first to choose will definitely not improve the accuracy of the individuals choice.There are many reasons to tell this statement. A few are
1.Decision making process depends on the individual unless it is given as a task to groups.
2.An individual who makes the decision will surely think about
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