Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/27150
Authors: 
Drehmann, Mathias
Oechssler, Jörg
Roider, Andreas
Year of Publication: 
2004
Series/Report no.: 
Bonn Econ Discussion Papers 15/2004
Abstract: 
Most real world situations which are susceptible to herding are also characterized by direct payoff externalities. Yet, the bulk of the theoretical and experimental literature focuses on pure informational externalities. In this paper we study several different forms of payoff externalities that interact with a standard herding model. More than 6000 subjects, including a subsample of 267 consultants from an international consulting firm, participated in an internet experiment. We also replicate and review earlier cascade experiments. Finally, we study reputation effects in the context of herding.
Subjects: 
information cascades
herding
network effects
experiment
internet
JEL: 
C92
D8
Document Type: 
Working Paper
Social Media Mentions:

Files in This Item:
File
Size
406.17 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.