The effect of rating agencies on herd behaviour

This paper purports to provide some evidence on the effect of rating agencies in financial markets. By means of a laboratory experiment, we investigate the effect and interaction between private and public information. We reached two conclusions: (1) indeed, the rating agency can speed up price convergence, (2) but not always to the fundamental price. Copyright Springer-Verlag Berlin Heidelberg 2014

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Year of publication:	2014
Authors:	Ferri, Giovanni ; Morone, Andrea
Published in:	Journal of Economic Interaction and Coordination. - Springer, ISSN 1860-711X. - Vol. 9.2014, 1, p. 107-127
Publisher:	Springer
Subject:	Herd behaviour \| Informational cascades \| Rating agency \| Bubble

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010848361