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Do information cascades arise easier under time pressure? : experimental approach
 Cingl, Lubomír ; Bauer, Michal (advisor) ; Pertold, Filip (referee)
Information cascades as a form of rational herding help to explain real-life phenomena such as fads, fashion, creation of 'bubbles' in financial markets or conformity in general. In this thesis I model both the propensity to herd as well as the propensity to view public information that may lead to herding. I carry out a laboratory experiment where I let subjects perform a simple task under different treatment conditions with the possibility to herd. Researchers normally imposed the uncertainty about the private signal by providing a task probabilistic in its nature such as drawing balls of different color from an urn and the decision-making was sequential. I conduct an experiment where the order of decision-making is endogenous and a task that is not probabilistic, but I impose uncertainty of private signal by increasing time pressure. This is expected to make participants prone to imitate the behavior of others, even though the others will be exposed to the same conditions. The time-pressure is also expected to induce stress reaction, which I measure as a physiological proxy variable - the heart rate frequency. Participants after each task state the subjective level of stress they felt to be in. I compare these two indices of stress if they bring same results. I also account for personality differences by...
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