Do we follow others when we should outside the lab? Evidence from the AP Top 25

Daniel F. Stone; Basit Zafar

doi:10.1007/s11166-014-9195-y

Do we follow others when we should outside the lab? Evidence from the AP Top 25

Daniel F. Stone, Basit Zafar

Research output: Contribution to journal › Article › peer-review

4 Scopus citations

Abstract

We use data from the Associated Press college American football poll to analyze two types of ex-post optimality of social learning in a non-lab setting. The poll is a weekly subjective ranking of the top 25 teams, voted on by over 60 sports journalists. Voters potentially can learn from their peers by observing the aggregate ranks before updating their individual ranks. Our results indicate that, while voters do learn from their peers to some extent, the informativeness of peer ranks appears to be under-valued.

Original language	English (US)
Pages (from-to)	73-102
Number of pages	30
Journal	Journal of Risk and Uncertainty
Volume	49
Issue number	1
DOIs	https://doi.org/10.1007/s11166-014-9195-y
State	Published - Jan 1 2014
Externally published	Yes

Keywords

Conformity
Herding
Networks
Peers
Social learning

ASJC Scopus subject areas

Accounting
Finance
Economics and Econometrics

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10.1007/s11166-014-9195-y

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Do we follow others when we should outside the lab? Evidence from the AP Top 25

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

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