Herd Behavior, The "Penguin Effect", and The Suppression of Informational Diffusion : An Analysis of Informational Externalities and Payoff Interdependency  

Oleh:

Jay, Pil Choi

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Rand Journal of Economics vol. 28 no. 3 (1997), page 407-425.
Topik: BEHAVIOUR; herd behaviour; penguin effect; diffusion; externalities; payoff; interdependency

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This article analyzes a technology adaption process in which the effect of informational spillovers interacts with network externalities. The interplay of informational externalities and payoff interdependency induces risk - averse and clustering behaviour in the technology - adaption process. The analysis differs from the herd behaviour literature in focusing on how the herd behaviour of subsequent users influences the initial adoption decision. Moreover, herd behaiour in this article stems from each agent's desire to inhibit the revelation of new information that can be used in a way detrimental to her, rather than from each agent's effort to free - ride on information contained in the decisions made by predecessors.

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