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Trends in arts and culture tend to be longer-lasting and less fragile than in other fields such as clothing design. Most herding models are not able to explain such stability, instead predicting informational cascades to be fragile and fads to be frequent. The present contribution is able to...
Persistent link: https://www.econbiz.de/10005673507
theory framework with asymmetric information. We distinguish between the role of insidership and personal connections. The …
Persistent link: https://www.econbiz.de/10008568175