Information Cascades - How Many Rational People Can Make Logical Decisions and Yet Still Create a Bubble
Tom Tunguz
DECEMBER 8, 2016
When I say bubble, you likely conjure images of people speculating on real estate or stocks or tulips in your imagination. Like me, you might dismiss the folly of these bubbles as the collective action of a multitude of people who lose all rationality when bidding on these assets. But, as I learned from a recent interview with Brian Christian , bubbles can be created even when everyone acts rationally.
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