Replication data for: Observational Learning and Demand for Search Goods

Principal Investigator(s):  View help for Principal Investigator(s) Kenneth Hendricks; Alan Sorensen; Thomas Wiseman

Version:  View help for Version V1

Name File Type Size Last Modified
  data 10/26/2021 08:54:AM
LICENSE.txt text/plain 14.6 KB 10/12/2019 07:20:PM

Project Citation: 

Hendricks, Kenneth, Sorensen, Alan, and Wiseman, Thomas. Replication data for: Observational Learning and Demand for Search Goods. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114393V1

Project Description

Summary:  View help for Summary We develop a model of herds in which consumers observe only the aggregate purchase history, not the complete ordered history of search actions. We show that the purchasing information changes the conditions under which herds can occur for both low- and high-quality products. Inferior products are certain to be ignored; high quality products may be ignored, but complete learning may also occur. We obtain closed form solutions for the probabilities of these events and conduct comparative statics. We test the model's predictions using data from an online music market created by Salganik, Dodds, and Watts (2006). (JEL D11, D12, L82)

Scope of Project

Subject Terms:  View help for Subject Terms Observational learning
JEL Classification:  View help for JEL Classification
      D11 Consumer Economics: Theory
      D12 Consumer Economics: Empirical Analysis
      L82 Entertainment; Media
Data Type(s):  View help for Data Type(s) other:; experimental data

Methodology

Data Source:  View help for Data Source The data were generated in an experiment described in Salganik, Dodds, and Watts (2006).

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Published Versions

V1 [2019-10-12]

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