Venezia, Itzhak; Nashikkar, Amrut; Shapira, Zur - Center for the Study of Rationality, Hebrew University … - 2011
We find a herding tendency among both amateur and professional investors and conclude that the propensity to herd is lower in the professionals. These results are obtained both when we consider herding into individual stocks and herding into stocks in general. Herding depends on the firm’s...