Investment dynamics with common and private values
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Dan Levin & James Peck, 2005. "Investment Dynamics with Common and Private Values," Levine's Bibliography 666156000000000607, UCLA Department of Economics.
References listed on IDEAS
- Sandeep Baliga & Tomas Sjöström, 2004.
"Arms Races and Negotiations,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(2), pages 351-369.
- Sandeep Baliga & Tomas Sjostrom, 2001. "Arms Races and Negotiations," Levine's Working Paper Archive 391749000000000005, David K. Levine.
- Sandeep Baliga & Tomas Sjostrom, 2003. "Arms Races and Negotiations," Levine's Working Paper Archive 618897000000000766, David K. Levine.
- Sandeep Baliga & Tomas Sjostrom, 2001. "Arms Races and Negotiations," Economics Working Papers 0007, Institute for Advanced Study, School of Social Science.
- Sandeep Baliga & Tomas Sjostrom, 2001. "Arms Races and Negotiations," NajEcon Working Paper Reviews 391749000000000005, www.najecon.org.
- Caplin, Andrew & Leahy, John, 1994.
"Business as Usual, Market Crashes, and Wisdom after the Fact,"
American Economic Review, American Economic Association, vol. 84(3), pages 548-565, June.
- Caplin, A. & Leahy, J., 1992. "Business as Usual, Market Crashes, and Wisdom after the Fact," Harvard Institute of Economic Research Working Papers 1594, Harvard - Institute of Economic Research.
- Morris, Stephen & Shin, Hyun Song, 1998.
"Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks,"
American Economic Review, American Economic Association, vol. 88(3), pages 587-597, June.
- Morris, S & Song Shin, H, 1996. "Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks," Economics Papers 126, Economics Group, Nuffield College, University of Oxford.
- Morris, Stephen & Shin, Hyun Song, 1997. "Unique Equilibrium in a Model of Self-fulfilling Currency Attacks," CEPR Discussion Papers 1687, C.E.P.R. Discussion Papers.
- , & ,, 2008.
"Caller Number Five and related timing games,"
Theoretical Economics, Econometric Society, vol. 3(2), June.
- Andreas Park & Lones Smith, 2008. "Caller Number Five and Related Timing Games," Working Papers tecipa-317, University of Toronto, Department of Economics.
- Jones, Larry E & Manuelli, Rodolfo E, 1992.
"The Coordination Problem and Equilibrium Theories of Recessions,"
American Economic Review, American Economic Association, vol. 82(3), pages 451-471, June.
- Larry E. Jones & R. E. Manuelli, 1987. "The Coordination Problem and Equilibrium Theories of Recessions," Discussion Papers 753, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Levin, Dan & Peck, James, 2003. "To Grab for the Market or to Bide One's Time: A Dynamic Model of Entry," RAND Journal of Economics, The RAND Corporation, vol. 34(3), pages 536-556, Autumn.
- Chamley, Christophe & Gale, Douglas, 1994.
"Information Revelation and Strategic Delay in a Model of Investment,"
Econometrica, Econometric Society, vol. 62(5), pages 1065-1085, September.
- Gale, D. & Chamley, C., 1992. "Information Revelation and Strategic Delay in a Model of Investment," Papers 10, Boston University - Department of Economics.
- Bolton, Patrick & Farrell, Joseph, 1990. "Decentralization, Duplication, and Delay," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 803-826, August.
- Drew Fudenberg & Jean Tirole, 1985. "Preemption and Rent Equalization in the Adoption of New Technology," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(3), pages 383-401.
- Chari, V. V. & Kehoe, Patrick J., 2004.
"Financial crises as herds: overturning the critiques,"
Journal of Economic Theory, Elsevier, vol. 119(1), pages 128-150, November.
- V. V. Chari & Patrick J. Kehoe, 2003. "Financial crises as herds: overturning the critiques," Staff Report 316, Federal Reserve Bank of Minneapolis.
- V. V. Chari & Patrick J. Kehoe, 2003. "Financial Crises as Herds: Overturning the Critiques," NBER Working Papers 9658, National Bureau of Economic Research, Inc.
- Gul, Faruk & Lundholm, Russell, 1995. "Endogenous Timing and the Clustering of Agents' Decisions," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 1039-1066, October.
- Jacob Goeree & Thomas Palfrey & Brian Rogers, 2006.
"Social learning with private and common values,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(2), pages 245-264, June.
- Goeree, Jacob & Palfrey, Thomas & Rogers, Brian, 2003. "Social learning with private and common values," Working Papers 1187, California Institute of Technology, Division of the Humanities and Social Sciences.
- Glazer, Jacob & Rubinstein, Ariel, 1998. "Motives and Implementation: On the Design of Mechanisms to Elicit Opinions," Journal of Economic Theory, Elsevier, vol. 79(2), pages 157-173, April.
- Chamley, Christophe, 2004. "Delays and equilibria with large and small information in social learning," European Economic Review, Elsevier, vol. 48(3), pages 477-501, June.
- Russell Cooper & Andrew John, 1988.
"Coordinating Coordination Failures in Keynesian Models,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(3), pages 441-463.
- Russell Cooper & John Andrew, 1985. "Coordinating Coordination Failures in Keynesian Models," Cowles Foundation Discussion Papers 745R, Cowles Foundation for Research in Economics, Yale University, revised Jul 1985.
- Diamond, Peter A, 1982.
"Aggregate Demand Management in Search Equilibrium,"
Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
- P. Diamond, 1980. "Aggregate Demand Management in Search Equilibrium," Working papers 268, Massachusetts Institute of Technology (MIT), Department of Economics.
- Andreas Park & Lones Smith, 2004.
"Caller Number Five: Timing Games that Morph From One Form to Another,"
2004 Meeting Papers
871, Society for Economic Dynamics.
- Andreas Park & Lones Smith, 2006. "Caller Number Five: Timing Games that Morph from One Form to Another," Cowles Foundation Discussion Papers 1554, Cowles Foundation for Research in Economics, Yale University.
- Levin, Dan & Peck, James & Ye, Lixin, 2007. "Bad news can be good news: Early dropouts in an English auction with multi-dimensional signals," Economics Letters, Elsevier, vol. 95(3), pages 462-467, June.
- Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-1277, November.
- John Bryant, 1983. "A Simple Rational Expectations Keynes-type Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(3), pages 525-528.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Vettas, Nikolaos, 2000.
"On entry, exit, and coordination with mixed strategies,"
European Economic Review, Elsevier, vol. 44(8), pages 1557-1576, August.
- Vettas, Nikolaos, 1996. "Entry, Exit and Coordination with Mixed Strategies," Working Papers 96-33, Duke University, Department of Economics.
- Curtis R. Taylor & Thomas D. Jeitschko, 2001. "Local Discouragement and Global Collapse: A Theory of Coordination Avalanches," American Economic Review, American Economic Association, vol. 91(1), pages 208-224, March.
- Bryant, John, 1987. "The Paradox of Thrift, Liquidity Preference and Animal Spirits," Econometrica, Econometric Society, vol. 55(5), pages 1231-1235, September.
- Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(3), pages 797-817.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Andreas Park & Daniel Sgroi, 2008.
"Herding and Contrarianism in a Financial Trading Experiment with Endogenous Timing,"
Working Papers
tecipa-341, University of Toronto, Department of Economics.
- Park, Andreas & Sgroi, Daniel, 2008. "Herding and Contrarianism in a Financial Trading Experiment with Endogenous Timing," Economic Research Papers 269879, University of Warwick - Department of Economics.
- Park, Andreas & Sgroi, Daniel, 2008. "Herding and Contrarianism in a Financial Trading Experiment with Endogenous Timing," The Warwick Economics Research Paper Series (TWERPS) 868, University of Warwick, Department of Economics.
- Murto, Pauli & Välimäki, Juuso, 2013. "Delay and information aggregation in stopping games with private information," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2404-2435.
- Wang, Tao, 2017. "Information revelation through bunching," Games and Economic Behavior, Elsevier, vol. 102(C), pages 568-582.
- Huanxing Yang, 2010. "Information aggregation and investment cycles with strategic complementarity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 43(2), pages 281-311, May.
- van Leeuwen, Boris & Offerman, Theo & van de Ven, Jeroen, 2018.
"Fight or Flight : Endogenous Timing in Conflicts,"
Discussion Paper
2018-052, Tilburg University, Center for Economic Research.
- van Leeuwen, Boris & Offerman, Theo & van de Ven, Jeroen, 2020. "Fight or flight : Endogenous timing in conflicts," Other publications TiSEM c6c93778-8eac-4706-9a67-f, Tilburg University, School of Economics and Management.
- van Leeuwen, Boris & Offerman, Theo & van de Ven, Jeroen, 2018. "Fight or Flight : Endogenous Timing in Conflicts," Other publications TiSEM ed32885c-3183-4eff-a0ff-7, Tilburg University, School of Economics and Management.
- Asen Ivanov & Dan Levin & James Peck, 2010. "Behavioral Biases, Informational Externalities, and Efficiency in Endogenous-Timing Herding Games: an Experimental Study," Working Papers 1004, VCU School of Business, Department of Economics.
- Asen Ivanov & Dan Levin & James Peck, 2009.
"Hindsight, Foresight, and Insight: An Experimental Study of a Small-Market Investment Game with Common and Private Values,"
American Economic Review, American Economic Association, vol. 99(4), pages 1484-1507, September.
- Asen Ivanov & Dan Levin & James Peck, 2008. "Hindsight, Foresight, and Insight: An Experimental Study of a Small-Market Investment Game with Common and Private Values," Working Papers 0801, VCU School of Business, Department of Economics.
- Levin, Dan & Peck, James & Ye, Lixin, 2007. "Bad news can be good news: Early dropouts in an English auction with multi-dimensional signals," Economics Letters, Elsevier, vol. 95(3), pages 462-467, June.
- Lukas Meub & Till Proeger & Hendrik Hüning, 2017. "A comparison of endogenous and exogenous timing in a social learning experiment," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 12(1), pages 143-166, April.
- Ivanov, Asen & Levin, Dan & Peck, James, 2013. "Behavioral biases in endogenous-timing herding games: An experimental study," Journal of Economic Behavior & Organization, Elsevier, vol. 87(C), pages 25-34.
- Pastine, Tuvana, 2005.
"Social Learning in Continuous Time: When are Informational Cascades More Likely to be Inefficient?,"
CEPR Discussion Papers
5120, C.E.P.R. Discussion Papers.
- Ivan Pastine & Tuvana Pastine, 2006. "Social Learning in Continuous Time - When are Informational Cascades More Likely to be Inefficient?," Working Papers 200621, School of Economics, University College Dublin.
- Meub, Lukas & Proeger, Till & Hüning, Hendrik, 2013. "A comparison of endogenous and exogenous timing in a social learning experiment," University of Göttingen Working Papers in Economics 167, University of Goettingen, Department of Economics.
- Brindisi, Francesco & Çelen, Boğaçhan & Hyndman, Kyle, 2014. "The effect of endogenous timing on coordination under asymmetric information: An experimental study," Games and Economic Behavior, Elsevier, vol. 86(C), pages 264-281.
- Park, Andreas & Sgroi, Daniel, 2012.
"Herding, contrarianism and delay in financial market trading,"
European Economic Review, Elsevier, vol. 56(6), pages 1020-1037.
- Park, A. & Sgroi, D., 2009. "Herding, Contrarianism and Delay in Financial Market Trading," Cambridge Working Papers in Economics 0941, Faculty of Economics, University of Cambridge.
- Heidhues, Paul & Melissas, Nicolas, 2012. "Rational exuberance," European Economic Review, Elsevier, vol. 56(6), pages 1220-1240.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Huanxing Yang, 2010. "Information aggregation and investment cycles with strategic complementarity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 43(2), pages 281-311, May.
- Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2024.
"Information Cascades and Social Learning,"
Journal of Economic Literature, American Economic Association, vol. 62(3), pages 1040-1093, September.
- Bikhchandani, Sushil & Hirshleifer, David & Tamuz, Omer & Welch, Ivo, 2021. "Information Cascades and Social Learning," MPRA Paper 107927, University Library of Munich, Germany.
- Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2021. "Information Cascades and Social Learning," NBER Working Papers 28887, National Bureau of Economic Research, Inc.
- Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2021. "Information Cascades and Social Learning," Papers 2105.11044, arXiv.org.
- Stephen Morris & Hyun Song Shin, 2000.
"Global Games: Theory and Applications,"
Cowles Foundation Discussion Papers
1275, Cowles Foundation for Research in Economics, Yale University.
- Stephen Morris & Hyun S Shin, 2001. "Global Games: Theory and Applications," Levine's Working Paper Archive 122247000000001080, David K. Levine.
- Stephen Morris & Hyun Song Shin, 2000. "Global Games: Theory and Applications," Cowles Foundation Discussion Papers 1275R, Cowles Foundation for Research in Economics, Yale University, revised Aug 2001.
- Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
- Francisco M. González, 2004.
"Informational spillovers and the coordination of speculative investments,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(1), pages 140-148, February.
- Francisco González, 2004. "Informational spillovers and the coordination of speculative investments," Canadian Journal of Economics, Canadian Economics Association, vol. 37(1), pages 140-148, February.
- Amedeo Panci, 1999. "Multiple equilibria: coordination failure and endogenous cycle," Working Papers in Public Economics 30, University of Rome La Sapienza, Department of Economics and Law.
- Wang, Tao, 2017. "Information revelation through bunching," Games and Economic Behavior, Elsevier, vol. 102(C), pages 568-582.
- Matthew Doyle, 2010.
"Informational externalities, strategic delay, and optimal investment subsidies,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 43(3), pages 941-966, August.
- Matthew Doyle, 2010. "Informational externalities, strategic delay, and optimal investment subsidies," Canadian Journal of Economics, Canadian Economics Association, vol. 43(3), pages 941-966, August.
- Doyle, Matthew, 2002. "Informational Externalities, Strategic Delay, and the Search for Optimal Policy," Staff General Research Papers Archive 10046, Iowa State University, Department of Economics.
- Edward L. Glaeser & Jose Scheinkman, 2000.
"Non-Market Interactions,"
NBER Working Papers
8053, National Bureau of Economic Research, Inc.
- Edward L. Glaeser & Jose A. Scheinkman, 2001. "Non-Market Interactions," Harvard Institute of Economic Research Working Papers 1914, Harvard - Institute of Economic Research.
- Pablo D. Fajgelbaum & Edouard Schaal & Mathieu Taschereau-Dumouchel, 2017.
"Uncertainty Traps,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1641-1692.
- Mathieu Taschereau-Dumouchel & Edouard Schaal & Pablo Fajgelbaum, 2013. "Uncertainty Traps," 2013 Meeting Papers 677, Society for Economic Dynamics.
- Pablo Fajgelbaum & Edouard Schaal & Mathieu Taschereau-Dumouchel, 2014. "Uncertainty Traps," NBER Working Papers 19973, National Bureau of Economic Research, Inc.
- Makoto Nirei & John Stachurski & Tsutomu Watanabe, 2018. "Trade Clustering and Power Laws in Financial Markets (Published in Theoretical Economics, 15:1365?1398, 2020)," CARF F-Series CARF-F-450, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- Makoto Nirei & Tsutomu Watanabe, 2014.
"Beauty Contests and Fat Tails in Financial Markets,"
UTokyo Price Project Working Paper Series
024, University of Tokyo, Graduate School of Economics.
- Makoto Nirei & Tsutomu Watanabe, 2014. "Beauty Contests and Fat Tails in Financial Markets," CARF F-Series CARF-F-346, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- George-Marios Angeletos & Chen Lian, 2016. "Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination," NBER Working Papers 22297, National Bureau of Economic Research, Inc.
- Nirei, Makoto & Stachurski, John & Watanabe, Tsutomu, 2020. "Trade clustering and power laws in financial markets," Theoretical Economics, Econometric Society, vol. 15(4), November.
- Gu, Chao, 2011.
"Herding and bank runs,"
Journal of Economic Theory, Elsevier, vol. 146(1), pages 163-188, January.
- Chao Gu, 2007. "Herding and Bank Runs," Working Papers 0716, Department of Economics, University of Missouri.
- Gu, Chao, 2007. "Herding and Bank Runs," Working Papers 07-15, Cornell University, Center for Analytic Economics.
- Hirshleifer, David & Teoh, Siew Hong, 2008.
"Thought and Behavior Contagion in Capital Markets,"
MPRA Paper
9142, University Library of Munich, Germany.
- Hirshleifer, David & Teoh, Siew Hong, 2008. "Thought and Behavior Contagion in Capital Markets," MPRA Paper 9164, University Library of Munich, Germany.
- Murto, Pauli & Välimäki, Juuso, 2013. "Delay and information aggregation in stopping games with private information," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2404-2435.
- Julien, Ludovic A., 2003. "Chômage d’équilibre, équilibres multiples et défauts de coordination," L'Actualité Economique, Société Canadienne de Science Economique, vol. 79(4), pages 523-562, Décembre.
- Makoto Nirei & Theodoros Stamatiou & Vladyslav Sushko, 2012. "Stochastic Herding in Financial Markets Evidence from Institutional Investor Equity Portfolios," BIS Working Papers 371, Bank for International Settlements.
- David Hirshleifer & Siew Hong Teoh, 2003.
"Herd Behaviour and Cascading in Capital Markets: a Review and Synthesis,"
European Financial Management, European Financial Management Association, vol. 9(1), pages 25-66, March.
- Hirshleifer, David & Teoh, Siew Hong, 2001. "Herd Behavior and Cascading in Capital Markets: A Review and Synthesis," MPRA Paper 5186, University Library of Munich, Germany.
More about this item
Keywords
Endogenous timing Herding Reversal Multi-dimensional signals;Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jetheo:v:143:y:2008:i:1:p:114-139. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622869 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.