- PII
- S042473880000616-6-1
- DOI
- 10.31857/S0000616-6-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 46 / Issue 1
- Pages
- 92-103
- Abstract
- The interesting effect of choice appears in the Becker's known example when the choice of consumers concentrates on one of two identical under all characteristics of the goods (restaurants). The case when the choice of participants occurs consistently one after another and each choice happens only once is investigated in the given paper. We assume that for all consumers there are the same aprioristic probability of preference of one of two goods (restaurants) and aprioristic probability of rationality of the consumer. It is assumed, that the participant knows about a choices of several his predecessors or about of choices of all of them and for a choice uses Bayesian strategy. The collective choice is investigated at the large length of sequence and various numbers of predecessors which choice each participant knows about. In the case when each consumer knows about choice of one his predecessor only the effect Becker's example(herd behavior) is absent, but a herd behavior can to arise in the case when he knows about choices of all his predecessors in sequence, but consumers take into account also the own information, received by them a priori.
- Keywords
- Date of publication
- 01.01.2010
- Number of purchasers
- 2
- Views
- 803