Rangvid, Jesper; Schmeling, Maik; Schrimpf, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009
that the expected average of all forecasters' forecasts (the expected consensus forecast) influences an individual … forecaster's own forecast. This looks like herding. In our survey, forecasters do not herd for reputational reasons, however … our study, we conclude that our results indicate that the incorporation of the expected consensus forecast into individual …