signals. Bunching is different from herding; it occurs in the first period and recursively until herding takes place or the … the players make decisions, which we call bunching, while the rest of the players do not invest regardless of their … symmetric mixed strategy equilibrium. When players become patient enough, herding of investment disappears in the most efficient …

signals. Bunching is different from herding; it occurs in the first period and recursively until herding takes place or the … the players make decisions, which we call bunching, while the rest of the players do not invest regardless of their … symmetric mixed strategy equilibrium. When players become patient enough, herding of investment disappears in the most efficient …

Traditional models of bank runs do not allow for herding effects, because in these models withdrawal decisions are …'s portfolio, and the withdrawal histories of the other depositors. In some cases, the optimal banking contract permits herding …

Traditional models of bank runs do not allow for herding effects, because in these models withdrawal decisions are …'s portfolio, and the withdrawal histories of the other depositors. In some cases, the optimal banking contract permits herding …

Traditional models of bank runs do not allow for herding effects, because in these models withdrawal decisions are …'s portfolio, and the withdrawal histories of the other depositors. In some cases, the optimal banking contract permits herding … efficient; these are cases in which the herd is misled. -- Bank runs ; herding ; imperfect information ; perfect Bayesian …

increase the probability of herding on consumption of both high and low quality goods …