Imagine that initially economic agents believe that P(A > B) = p > /1. Furthermore, imagine that investors receive signals that reveal the truth with probability q > p > 1. Consider a sequential game with N agents with agent 1 making her choice first. Assume that signals received are only privately known, but choices are publicly observable. Imagine that the sequence of signals received is given with $ = A, 82 83 = ... = SN B. Assume that N is large. Which of the two options is better (the probability that it is better is close to 1)? a) A b) B c) both are equally good d) cannot tell unless the precise values of q and p are known