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The effect of rating agencies on herd behaviour
Giovanni Ferri ()
Andrea Morone , 2014, vol. 9, issue 1, pages 107-127
Journal of Economic Interaction and Coordination Abstract:
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
Keywords: Herd behaviour; Informational cascades; Rating agency; Bubble; C91; D82; D83 (search for similar items in EconPapers)
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Related works: Working Paper: The Effect of Rating Agencies on Herd Behaviour (2008) Working Paper: The Effect of Rating Agencies on Herd Behaviour (2008) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:spr:jeicoo:v:9:y:2014:i:1:p:107-127
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