Herding behavior in asset markets

被引：31
|
作者：
Hott, Christian
机构：
来源：
JOURNAL OF FINANCIAL STABILITY | 2009年 / 5卷 / 01期
关键词：
Herding behavior; Price bubbles; Baysian learning; STOCK-PRICES; FINANCIAL-MARKETS; CASCADES; BUBBLES;
D O I：
10.1016/j.jfs.2008.01.004
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the origins of herding behavior in asset markets and its potential to produce a price bubble. I present a model which explains the emergence and the development of herding behavior via asymmetric information and Baysian learning. A corresponding price bubble is explained through herding behavior without assuming any speculative incentives on the part of the investors. (C) 2008 Elsevier B.V. All rights reserved.
引用
收藏
页码：35 / 56
页数：22
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