Gallo, Giampiero M.; Granger, Clive W.J.; Jeon, Yongil - Dipartimento di Statistica, Informatica, Applicazioni … - 2001
This paper presents evidence, using data from Consensus Forecasts, that there is an 'attraction' to conform to the mean forecasts; in other words, views expressed by other forecasters in the previous period influence individuals' current forecast. The paper then discusses-and provides further...