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羊群行为和信息串联 被引量:2

Herd Behavior and Informational Cascade
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摘要 羊群行为是一种常见、多发的人类行为,它在金融市场深刻地影响着资产定价,因而具有重要的研究价值。本文回顾了多种羊群模型,将它们划分为三类:基于收益外部性、基于信息外部性以及两者兼备的声誉模型,并对三类模型进行了比较分析,同时也对一些重要的概念如信息串联、战略延迟等做出了定义阐述。
作者 章融 金雪军
出处 《数量经济技术经济研究》 CSSCI 北大核心 2002年第10期83-86,共4页 Journal of Quantitative & Technological Economics
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参考文献5

  • 1[1]Banerjee Abhijit V.(1992): "A Simple Model of Herd Behavior," Quarterly Journal of Economics, 107; 797~817.
  • 2[2]Scharfstein, Davie S.,and Jeremy C.Stein(1990): "Herd Behavior and Investment," American Economy Re view,80,465 ~ 479.
  • 3[3]Welch, lvo(1992): "Sequential Sales, Learning and Cascades," Journal of Finance,47(2)695 ~ 732.
  • 4[4]Lee, In Ho(1993): "On the Convergence of Information Cascadee," Journal of Econnomic Theory, 61, 741~759.
  • 5[5]Froot, Kenneth A., Davie S.Scharfstein,and Jeremy C.Stein(1992): "Herd on the Street: Information Inefficiencies in a Market with Sorty-Term Speculation,"Journal of finance,47,1461 ~ 1484.

同被引文献39

  • 1李平,曾勇.资本市场羊群行为综述[J].系统工程学报,2006,21(2):176-183. 被引量:14
  • 2吴中春,杨文超.基于信息不对称的羊群行为形成机理研究[J].现代管理科学,2006(11):50-51. 被引量:2
  • 3Banerjee Abhijit V. A Simple Model of Herd Behavior[J]. The Quarterly Journal of Economics, 1992, 107(3): 797-817.
  • 4Bikhchandani Sushil, Hirshleifer David, Welch Ivo. A Theory of Fads, Fashion, Custom and Cultural Change as Information Cascades[J]. Jouanal of Political Economy, 1992, 100(5): 992-1026.
  • 5Welch Ivo. Sequential Sales, Learning and Cascades[J]. Jour- nal of Finance, 1992, 47(2): 695-732.
  • 6Anderson Lisa R, I4oh Charles A. Classroom Games: Informa- tion Cascades[J]. Journal of Economic Perspectives, 1996, 10 (4): 187-193.
  • 7Anderson Lisa R, Holt Charles A. Information Cascades in the Laboratory[J]. The American Economic Review, 1997, 87(5): 847-862.
  • 8Allsopp Louise, Hey John D. Two Experiments to Test A Mod- el of Herd Behavior[J]. Experimental Economics, 2000, 3(2): 121 - 136.
  • 9Anderson Lisa R. Payoff Effects in Information Cascade Ex- periments[J]. Economic Inquiry, 2001, 39(4): 609-615.
  • 10Goeree Jacob K, Palfrey Thomas R, Rogers Brian W, et al. Self-Correcting Information Cascades[J].The Review of Eco- nomic Studies, 2007, 74(3): 733-762.

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