Zhiyong, Dong; Gu, Qingyang; Han, Xu - In: Applied financial economics 20 (2010) 4/6, pp. 331-343
This article reviews the literature on herd behaviour in financial markets in the context of the sequential trading model and points out the importance of incorporating ambiguity into the framework. Although Ford et al. (2005) have applied the Choquet-expected-utility theory to analyse the...