Herd behavior and investment: reply
Article Abstract:
In 1990, David Scharfstein and Jeremy Stein presented a model demonstrating how reputation conscious "dumb" agents might ignore information and simply imitate the behavior of "smart" managers: a "follow the herd" scenario. Since that time, empirical evidence has been found to support that idea.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2000
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Herd behavior and investment: comment
Article Abstract:
A definition of "herd behavior" is provided, and a model of the sequential investment behavior of agents is examined and summarized.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2000
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Investor sentiment and corporate finance: micro and macro
Article Abstract:
Effects of stock prices on merger activity and corporate equity issuance are presented.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2006
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