Rational Herds: Economic Models of Social Learning

1. Introduction Part I. Social Learning: 2. Bayesian tools 3. Social learning with a common memory 4. Cascades and herds 5. Limited memories 6. Delays 7. More delays 8. Outputs 9. Networks and diffusion 10. Words Part II. Coordination: 11. Guessing to coordinate 12. Learning to coordinate 13. Delays and payoff externalities Part III. Financial Herding: 14. Sequences of financial trades 15. Gaussian financial markets 16. Financial frenzies.