Information Cascades

An information cascade occurs when people signal that they have information about something, but actually based their judgment on other people's signals, resulting in a self-reinforcing groupcommunity opinion that does not necessarily reflect reality.

Applied to Epistemic Luck by Ruby at 1y
Created by MichaelA at 2y
Applied to Information cascades by jimrandomh at 2y

An information cascade occurs when people signal that they have information about something, but actually based their judgment on other people's signals, resulting in a self-reinforcing communitygroup opinion that does not necessarily reflect reality.