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 …

withdrew money one month prior to the events. Thedegree of herding among funds is statistically significant, but moderate.Herding …

predicted by theory, we find that the presence of a flexible market price prevents herding. However, the presence of contrarian …

We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …

approximate the herding component among an ensemble of agents in the aggregate by a Langevin equation, we can either simulate the …