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Learning Through Imitation: an Experiment

Author

Listed:
  • Marina Agranov
  • Gabriel Lopez-Moctezuma
  • Philipp Strack
  • Omer Tamuz

Abstract

We compare how well agents aggregate information in two repeated social learning environments. In the first setting agents have access to a public data set. In the second they have access to the same data, and also to the past actions of others. Despite the fact that actions contain no additional payoff relevant information, and despite potential herd behavior, free riding and information overload issues, observing and imitating the actions of others leads agents to take the optimal action more often in the second setting. We also investigate the effect of group size, as well as a setting in which agents observe private data and others’ actions.

Suggested Citation

  • Marina Agranov & Gabriel Lopez-Moctezuma & Philipp Strack & Omer Tamuz, 2022. "Learning Through Imitation: an Experiment," NBER Working Papers 29962, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:29962
    Note: POL
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    File URL: http://www.nber.org/papers/w29962.pdf
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    More about this item

    JEL classification:

    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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