Closing Remarks

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The attractiveness of the "Informational Cascades" model largely rests in its ability to describe mass phenomena with very simple assumptions. Because agents act according to a Perfect Bayesian Equilibrium, there is no need to complicate or constrain agents beyond purely rational ones. The addition of noise to agents' signals results in the emergence of mass behavior, and furthermore fragile mass behavior.

All of the experiments discussed in this tutorial and many related experiments can be replicated in the main simulator window. Various parameters can be altered and a wide variety of behaviors can be investigated. This process begins with creating a new society using the Sequential Learning Model.

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