Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/318488 
Year of Publication: 
2025
Series/Report no.: 
WIFO Working Papers No. 704
Publisher: 
Austrian Institute of Economic Research (WIFO), Vienna
Abstract: 
Does interaction between firms lead to a streamlining of expectations? We test for the existence of a so-far ignored channel of expectation formation and diffusion by matching a regular Austrian business survey on firm expectations with the schedule and confirmed exhibitors at trade fairs. We find that in the month after a firm has exhibited at a trade fair, its production expectations react stronger to consensus expectations than in other months. We thus provide first micro-level evidence suggesting that firms' beliefs are shaped by information from other firms with whom they meet and potentially trade.
Subjects: 
Expectations
survey data
incomplete information
JEL: 
E32
E71
D84
Document Type: 
Working Paper

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