Behavioral Economics: Week 11 By Week Schedule

Topic: Voluntary Giving, Public Goods and The Wisdom of Crowds, Learning and Cascades

Tuesday: Learning Cascades

Lab Experiment: Holt Chapter 31 on Information Cascades

Powerpoint: Learning Cascades

Videos: Asch Conformity Experiments, Milgrim Experiment

Readings: Bikhchandani, Sushil, David Hirshleifer and Ivo Welch. 1998. "Learning from the behavior of Others: Conformity, Fads and Information Cascades." Journal of Economic Perspectives, Vol. 12(3): 151-170.

Thursday: The Wisdom of Crowds

Lab Experiment: The Candy Jar

Videos: Wisdom of Crowds, Scott Page on the Power of Diversity,

Powerpoint: The Wisdom of Crowds

Readings: Suroweicki, The Wisdom of Crowds (click here if you'd rather listen: Surowiecki's Wisdom of Crowds). Here is also the Wisdom of Crowds Blog!