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Rational Herds: Economic Models of Social Learning Christophe Chamley

Rational Herds: Economic Models of Social Learning

Christophe Chamley

Published November 24th 2003
ISBN : 9780521824019
Hardcover
418 pages
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 About the Book 

Social learning involves individuals learning from the behavior of others and may lead to spectacular outcomes such as herding, fads, frenzies, crashes, and booms. Providing a synthesis of the theoretical literature of the last ten years, ChristopheMoreSocial learning involves individuals learning from the behavior of others and may lead to spectacular outcomes such as herding, fads, frenzies, crashes, and booms. Providing a synthesis of the theoretical literature of the last ten years, Christophe Chamley demonstrates how these pathologies may occur in a society of rational individuals. His book provides informal as well as technical analyses for readers interested in social behavior, and more advanced researchers in economics, finance, and other social sciences. A key feature is the inclusion of exercises in each chapter, with proofs written out for students.