We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …

withdrew money one month prior to the events. Thedegree of herding among funds is statistically significant, but moderate.Herding …

We consider a monopolist who sells identical objects of common but unknown value in a herding-prone environment. Buyers … monopolist’s optimal pricing strategy and its implications for the temporal pattern of prices and for herding. The analysis is … performed under alternative assumptions about observability of prices. We find that when previous prices are observable, herding …

aspect of the services of experts (e.g., of doctors, lawyers, and accountants), and the role that voluntary pro bono work … might play. Expert services have un- verifiable quality to non-experts and are subject to moral hazard. Experts who cheat … their customers should crowd out experts who do not, resulting in low trust, prestige, and wages. We ask how pro bono work …

In this paper we develop a theory of patenting in which a firm preserves its reputation to only apply for a patent … reputation to be preserved in equilibrium and analyze which market environments are favorable for such an equilibrium to exist …

emerging economies. We show that governments in emerging economies are more concerned about their reputation and tend to ride … that would help prevent potential crises. We provide evidence of the relevance of this reputation mechanism. …

preferences in combination with reputation opportunities keep principals from abusing their power, leading to the widespread …

equilibria share some features with the ones of multi-sided reputation models. …

This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate … decision authority and to increase their wages in later periods (in case of public evaluation). We show that the principal …