Chapter

Imitation and Instability

Mark Casson

in Information and Organization

Published in print January 2001 | ISBN: 9780198297802
Published online November 2003 | e-ISBN: 9780191596063 | DOI: http://dx.doi.org/10.1093/0198297807.003.0005
Imitation and Instability

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Some people have better information than others. Information can sometimes be inferred by observing the actions of other people who are believed to be better informed. On the other hand, people who know that they have a reputation for being well‐informed are aware that they can manipulate the beliefs of other people. This analysis is applied to innovation, imitation, and stock‐market bubbles.

Keywords: imitation; innovation; instability; speculation

Chapter.  11580 words.  Illustrated.

Subjects: Microeconomics

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