I did it your way. An experimental investigation of peer effects in investment choices

Alexia Delfino (), Luigi Marengo and Matteo Ploner

Journal of Economic Psychology, 2016, vol. 54, issue C, 113-123

Abstract: We experimentally investigate imitation in investment choices and focus on cognitive aspects of decision making. At this aim, we manipulate three main dimensions of choice: time pressure, normative content of social information, and uncertainty of the investment. We document the existence of imitation. In line with our hypotheses, a piece of information which is more representative of average group behavior induces stronger imitation. Furthermore, higher time pressure fosters imitation. In contrast to our hypothesis, imitation is weaker for uncertain investments than for risky investments.

Keywords: Peer effects; Investment decisions; Bounded rationality; Experiments (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:54:y:2016:i:c:p:113-123

DOI: 10.1016/j.joep.2016.03.005

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