Financial market contagion

Morgan Kelly

Open Access publications from School of Economics, University College Dublin

Abstract: The power of the metaphor of contagion—that beliefs, actions, and strategies spread among economic agents like pathogens among biological organisms— causes it to recur in disparate areas of economics. This article focusses on four applications of contagion to economics: social influence or memoryless learning; Bayesian social learning; strategy choice in coordination games; and the spread of crises in international financial markets.

Keywords: Economics--Sociological; aspects (search for similar items in EconPapers)
Date: 2008
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Published in: Durlauf, Steven N. and Blume, Lawrence E. (eds.). The new Palgrave dictionary of economics, second ed.. Palgrave Macmillan, 2008

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Persistent link: https://EconPapers.repec.org/RePEc:ucn:oapubs:10197/524

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