Imitation Theory and Experimental

We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we …nd that the di¤erent predictions of previous imitation models are due to di¤erent informational assumptions, not to di¤erent behavioral rules. It is more important whom one imitates rather than how. In a laboratory experiment we test the di¤erent theories by systematically varying information conditions. We …nd signi…cant e¤ects of seemingly innocent changes in information. Moreover, the generalized imitation model predicts the di¤erences between treatments well. The data provide support for imitation on the individual level, both in terms of choice and in terms of perception. But imitation is not unconditional. Rather individuals’ propensity to imitate more successful actions is increasing in payo¤ di¤erences. JEL codes: C72; C91; C92; D43; L13.