Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/209141
Authors: 
Arrondel, Luc
Calvo-Pardo, Hector
Giannitsarou, Chryssi
Haliassos, Michael
Year of Publication: 
2019
Series/Report no.: 
IMFS Working Paper Series 136
Abstract: 
We design, field and exploit survey data from a representative sample of the French population to examine whether informative social interactions enter households'stockholding decisions. Respondents report perceptions about their circle of peers with whom they interact about financial matters, their social circle and the population. We provide evidence for the presence of an information channel through which social interactions influence perceptions and expectations about stock returns, and financial behavior. We also find evidence of mindless imitation of peers in the outer social circle, but this does not permeate as many layers of financial behavior as informative social interactions do.
Subjects: 
Information networks
Social interactions
Subjective expectations
Peer effects
Portfolio choice
JEL: 
D12
D83
D84
G11
C42
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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