Modeling herding behavior and its risks
نویسندگان
چکیده
منابع مشابه
Herding and Contrarian Behavior in Financial Markets
Rational herd behavior and informationally efficient security prices have long been considered to be mutually exclusive but for exceptional cases. In this paper we describe the conditions on the underlying information structure that are necessary and sufficient for informational herding and contrarianism. In a standard sequential security trading model, subject to sufficient noise trading, peop...
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ژورنال
عنوان ژورنال: Journal of Economic Methodology
سال: 2013
ISSN: 1350-178X,1469-9427
DOI: 10.1080/1350178x.2013.774843