Using a high-stakes field experiment conducted with a financial brokerage, we implement a novel design to separately identify two channels of social influence in financial decisions, both widely studied theoretically. When someone purchases an asset, his peers may also want to purchase it, both...

We find that firms are more likely to split their stock if their peer firms have recently done so. The effect is comparable to an increase of 40-50% in the share price. Splitting probability is also increasing in the announcement returns of peer splits. These results are consistent with social...

Using box-office data for all movies released between 1982 and 2000, I test the implications of a simple model of social learning in which the consumption decisions of individuals depend on information they receive from their peers. The model predicts different box office sales dynamics...

Classroom peers are believed to influence learning by teaching each other, and the efficacy of this teaching likely depends on classroom composition in terms of peers' ability. Unfortunately, little is known about peer-to-peer teaching because it is never observed in field studies. Furthermore,...

Classroom peers are believed to influence learning by teaching each other, and the efficacy of this teaching likely depends on classroom composition in terms of peers' ability. Unfortunately, little is known about peer-to-peer teaching because it is never observed in field studies. Furthermore,...

We conduct a large scale RCT to investigate peer effects in computer assisted learning (CAL). Identification of peer effects relies on three levels of randomization. It is already known that CAL improves math test scores in Chinese rural schools. We find that paired treatment improves the...

Classroom peers presumably influence learning by teaching each other. Unfortunately, little is known about peer-to-peer teaching because it is never observed in field studies. The efficacy of this teaching likely depends on the ability of one's peers. We investigate the mechanisms of peer...