Herding, Social Preferences and (Non-) Conformity

Luca Corazzini and Ben Greiner

No 21, Working Paper Series in Economics from University of Cologne, Department of Economics

Abstract: We study the role of social preferences and conformity in explaining herding behavior in anonymous risky environments. In an experiment similar to information cascade settings, but with no private information, we find no evidence for conformity. On the contrary, we observe a significant amount of non-conforming behavior, which cannot be attributed to errors.

Keywords: herding; information cascades; conformity; non-conformity; laboratory experiments (search for similar items in EconPapers)
JEL-codes: C92 D31 D81 (search for similar items in EconPapers)
Date: 2005-11-16, Revised 2007-01-24
New Economics Papers: this item is included in nep-cbe and nep-exp
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (37)

Forthcoming Economics Letters

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Journal Article: Herding, social preferences and (non-)conformity (2007)
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