Drehmann, M., Oechssler, J. and Roider, Andreas (2005) Herding and Contrarian Behavior in Financial Markets: An Internet Experiment. American Economic Review (AER) 95 (5), pp. 1403-1426.
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Abstract
We report results of an Internet experiment designed to test the theory of informational cascades in financial markets (Christopher Avery and Peter Zemsky, 1998). More than 6,400 subjects, including a subsample of 267 consultants from an international consulting firm, participated in the experiment. We find that the presence of a flexible market price prevents herding. The presence of contrarian ...
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| Item type: | Article | ||||||
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| Date: | 2005 | ||||||
| Institutions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Mikroökonomik (Prof. Dr. Andreas Roider) | ||||||
| Interdisciplinary Subject Network: | Not selected | ||||||
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| Dewey Decimal Classification: | 300 Social sciences > 330 Economics | ||||||
| Status: | Published | ||||||
| Refereed: | Yes, this version has been refereed | ||||||
| Created at the University of Regensburg: | Unknown | ||||||
| Item ID: | 21711 |
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