Give me a brief description of cascade theory.
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an information cascade, people observe the of choices of others and make their own decisions based on that observation while ignoring their personal knowledge or getting moreinformation. ... Informationalcascades can be observed in many areas, including financial markets
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In an information cascade, people observe the choices of others and make their own decisions based on that observation while ignoring their personal knowledge or getting more information. It's a theory used in the field of behavioral economics and social sciences
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