We highlight herding of investors as one major risk factor that is typically ignored in statistical approaches to … portfolio modelling and risk management. Our survey focuses on smart-beta investing where such methods and investor herding seem … modelling herding risk which merit empirical analysis. This financial economists' perspective supplements the vast statistical …

Vaccination: Does the Theory Justify the Law?, are incorrect and untenable. The authors misunderstand the nature of society’s duty …

This paper studies the herding behavior in managers’ investment decision; “Herding”, specifically, is defined as managers … influenced greatly by this external benchmark - most of the case they would herd. This resulted herding behavior comes out under …