I Think What You Think: Trade Fairs and the Exchange of Firms' Beliefs

Anja Sebbesen and Birgit Meyer
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Anja Sebbesen: WIFO
Birgit Meyer: WIFO

No 704, WIFO Working Papers from WIFO

Abstract: Does interaction between firms lead to a streamlining of expectations? We test for the existence of a so-far ignored channel of expectation formation and diffusion by matching a regular Austrian business survey on firm expectations with the schedule and confirmed exhibitors at trade fairs. We find that in the month after a firm has exhibited at a trade fair, its production expectations react stronger to consensus expectations than in other months. We thus provide first micro-level evidence suggesting that firms' beliefs are shaped by information from other firms with whom they meet and potentially trade.

Keywords: Expectations; survey data; incomplete information (search for similar items in EconPapers)
Pages: 32 pages
Date: 2025-04-30
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wpaper:y:2025:i:704

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