predicted by theory, we find that the presence of a flexible market price prevents herding. However, the presence of contrarian …Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004: We report results of an internet experiment … designed to test the theory of informational cascades in financial markets (Avery and Zemsky, AER, 1998). More than 6400 …

Most real world situations that are susceptible to herding are also characterized by direct payoff externalities. Yet …, the bulk of the theoretical and experimental literature on herding has focused on pure informational externalities. In … effects, first-mover advantage, etc.) in a standard information-based herding model. Our results are based on an internet …

) in the context of herding.-- information cascades ; herding ; network effects ; experiment ; internet …Most real world situations that are susceptible to herding are also characterized by direct payoff externalities. Yet …, the bulk of the theoretical and experimental literature on herding has focused on pure informational externalities. In …

Several recent empirical papers assert that the decision to disclose an earnings forecast shortly before the actual … dynamic model of voluntary disclosure, we show that the decision to disclose a short-term earnings forecast reveals managers … decision to disclose a short-term earnings forecast predicts earnings three years beyond the forecasted period, and that the …

efficacy beliefs regarding others and chance. A first empirical survey-based test produces substantial support for our theory …

efficacy beliefs regarding others and chance. A first empirical survey-based test produces substantial support for our theory … ; learning ; information and knowledge ; communication ; belief ; expectations ; speculations …

Typically, laboratory experiments suffer from homogeneous subject pools and self-selection biases. The usefulness of … method integrating interactive experiments and representative surveys thereby overcoming crucial weaknesses of both … approaches. One of the major advantages of our approach is that it allows for the integration of experiments, which require …

Typically, laboratory experiments suffer from homogeneous subject pools and selfselection biases. The usefulness of … method integrating interactive experiments and representative surveys thereby overcoming crucial weaknesses of both … approaches. One of the major advantages of our approach is that it allows for the integration of experiments, which require …