We study social learning in a continuous action space experiment. Subjects, acting in sequence, state their beliefs about the value of a good after observing their predecessors’ statements and a private signal. We compare the behavior in the laboratory with the Perfect Bayesian Equilibrium prediction and the predictions of bounded rationality models of decision-making: the redundancy of information neglect model and the overconfidence model. The results of our experiment are in line with the predictions of the overconfidence model and at odds with the others’. (JEL C91, D12, D82, D83)

中文翻译：

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信息冗余忽视与过度自信：社会学习实验

我们在一个连续的行动空间实验中研究社会学习。受试者按顺序行动，在观察前人的陈述和私人信号后，陈述他们对物品价值的信念。我们将实验室中的行为与完美贝叶斯均衡预测和决策的有限理性模型的预测进行了比较：信息忽略模型的冗余和过度自信模型。我们的实验结果与过度自信模型的预测一致，与其他模型的预测不一致。(JEL C91, D12, D82, D83)