We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …

-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in … actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …-Bayesian updating and informational misinferences are the two channels that drive excessive herding, while the strong (resp. mild …

We report the results of an experiment on selective exposure to information. A decision maker interested in learning …. In line with the theory, subjects are more likely to seek confirmatory information when sources are symmetrically … source even when prior beliefs are strongly unbalanced and this source is less informative. Our experiment suggests that base …

experiment to measure changes of human trading behavior if these humans expect algorithmic traders. To disentangle the direct …

We propose a theory that jointly accounts for an asset illiquidity and for the asset price potential over-reliance on …