| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18241 |
| 来源ID | Working Paper 18241 |
| Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment | |
| Leonardo Bursztyn; Florian Ederer; Bruno Ferman; Noam Yuchtman | |
| 发表日期 | 2012-07-19 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Using a high-stakes field experiment conducted with a financial brokerage, we implement a novel design to separately identify two channels of social influence in financial decisions, both widely studied theoretically. When someone purchases an asset, his peers may also want to purchase it, both because they learn from his choice ("social learning") and because his possession of the asset directly affects others' utility of owning the same asset ("social utility"). We find that both channels have statistically and economically significant effects on investment decisions. These results can help shed light on the mechanisms underlying herding behavior in financial markets. |
| 主题 | Econometrics ; Experimental Design ; Microeconomics ; Behavioral Economics ; Households and Firms ; Economics of Information ; Financial Economics ; Portfolio Selection and Asset Pricing ; Other ; Accounting, Marketing, and Personnel |
| URL | https://www.nber.org/papers/w18241 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575917 |
| 推荐引用方式 GB/T 7714 | Leonardo Bursztyn,Florian Ederer,Bruno Ferman,et al. Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18241.pdf（574KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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