Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits
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Biased information about the payoffs received by others can drive innovation, risk-taking, and investment booms. We study this cultural phenomenon using a model based on two premises. The first is a tendency for large successes, and the actions that lead to them, to be more salient to onlookers than
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美国国家经济研究局创建时间：
2020-08-01
