I Say Hello, and You Say Goodbye. A Model of Informational Differentiation

M.R. Effinger and Mattias K Polborn

Working Papers from Toulouse - GREMAQ

Abstract: We analyze a model related to the strategic hereding literature where a second expert maximises his expected second period vvalue by conforming witj a first expert ("herding"). In contrast to the herdinfg literature we assume that an agent is most valuable if he is the only smart agent. We describe an equilibrium in which the second expert always opposes its predecessor's report. We call this anti-herding phenomenom "differenciation". Particular equilibrium charasteristics and also real life examples of differentiation are discussed.

Keywords: INFORMATION (search for similar items in EconPapers)
JEL-codes: D8 L13 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1997
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fth:gremaq:97.454a

Access Statistics for this paper

More papers in Working Papers from Toulouse - GREMAQ GREMAQ, Universite de Toulouse I Place Anatole France 31042 - Toulouse CEDEX France.. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().