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Persistent link: https://www.econbiz.de/10010234858
model of informational herding that can be estimated with financial transaction data. In the model, rational herding arises … because of information-event uncertainty. We estimate the model using data on a NYSE stock (Ashland Inc.) during 1995. Herding …) and is greater than 10 percent in 7 percent (11 percent) of information-event days. Herding causes important informational …
Persistent link: https://www.econbiz.de/10013130822
socionomic theory of finance (STF) posits that contextual differences between economics and finance produce different behavior … valuations by other homogeneous agents induces unconscious, non-rational herding, which follows endogenously regulated …
Persistent link: https://www.econbiz.de/10013134251
study posits that Institutional investors demonstrate rational intentional herding and positive feedback trading (buy when …
Persistent link: https://www.econbiz.de/10013120488
build a structural model of informational herding that can be estimated with financial transaction data. In the model …, rational herding arises because of information-event uncertainty. We estimate the model using 1995 stock market data for … Ashland Inc., a company listed on the New York Stock Exchange. Herding occurs often and is particularly pervasive on certain …
Persistent link: https://www.econbiz.de/10013105433
policy on herding results to higher levels of herd behaviour for Spain, Italy, France, and Portugal …
Persistent link: https://www.econbiz.de/10012900710
This paper investigates one aspect of the herd behavior in financial markets: the cognitive mutual interaction among professional agents. Professional agents are in continuous contact and exchange information and interpretations in order to develop their expectations. We hypothesized that this...
Persistent link: https://www.econbiz.de/10013012478
One important conclusion of Robert Shiller's influential 2015 book, Irrational Exuberance, is that bubbles are random exogenous phenomena that cannot be foreseen and do not depend on macroeconomic policies. This CEPR Policy Insight throws light on the root causes of speculative fevers in asset...
Persistent link: https://www.econbiz.de/10012861206
epidemiological study the models like Cox,B Spline, SIR and Transmission probability are used to explain herding effect. Bulk of the … be used to describe herding phenomena in case of financial market. One of the key finding is that it is better to use B …
Persistent link: https://www.econbiz.de/10012986178
asynchronous bubbles emerge. Above the critical value, small random price fluctuations may be amplified by noise traders herding …
Persistent link: https://www.econbiz.de/10012799633