메뉴 건너뛰기




Volumn 40, Issue 3-5, 1996, Pages 589-601

Social learning and rational expectations

Author keywords

Herding; Information externalities; Informational cascade; Rational expectations; Social learning

Indexed keywords


EID: 0000509916     PISSN: 00142921     EISSN: None     Source Type: Journal    
DOI: 10.1016/0014-2921(95)00072-0     Document Type: Article
Times cited : (30)

References (37)
  • 2
  • 5
    • 27744568768 scopus 로고
    • A theory of fads, fashion, custom, and cultural change as informational cascades
    • Bikhchandani, S, D. Hirshleifer and I. Welch, 1992, A theory of fads, fashion, custom, and cultural change as informational cascades, Journal of Political Economy 100, no. 51, 992-1026.
    • (1992) Journal of Political Economy , vol.100 , Issue.51 , pp. 992-1026
    • Bikhchandani, S.1    Hirshleifer, D.2    Welch, I.3
  • 6
    • 0042014161 scopus 로고
    • Rational expectations, information and asset markets: An introduction
    • Bray, M., 1985, Rational expectations, information and asset markets: An introduction, Oxford Economic Papers 37, 61-195.
    • (1985) Oxford Economic Papers , vol.37 , pp. 61-195
    • Bray, M.1
  • 7
    • 85006637466 scopus 로고
    • Rational learning and rational expectations
    • G. Feiwel, ed., Chap. 19
    • Bray, M. and D. Kreps, 1988, Rational learning and rational expectations, in: G. Feiwel, ed., Arrow and the ascent of modern economic theory, Chap. 19, 597-625.
    • (1988) Arrow and the Ascent of Modern Economic Theory , pp. 597-625
    • Bray, M.1    Kreps, D.2
  • 10
    • 0042014162 scopus 로고
    • Why market share matters: An information-based theory
    • forthcoming
    • Caminal, R. and X. Vives, 1995, Why market share matters: An information-based theory, Rand Journal of Economics, forthcoming.
    • (1995) Rand Journal of Economics
    • Caminal, R.1    Vives, X.2
  • 11
    • 0000756428 scopus 로고
    • Information revelation and strategic delay in a model of investment
    • Chamley, C. and D. Gale, 1994, Information revelation and strategic delay in a model of investment, Econometrica 62, no. 5, 1065-1085.
    • (1994) Econometrica , vol.62 , Issue.5 , pp. 1065-1085
    • Chamley, C.1    Gale, D.2
  • 13
  • 15
    • 0001084831 scopus 로고
    • An example of convergence to rational expectations with heterogeneous beliefs
    • Feldman, M., 1987, An example of convergence to rational expectations with heterogeneous beliefs, International Economic Review 28, no. 3, 635-650.
    • (1987) International Economic Review , vol.28 , Issue.3 , pp. 635-650
    • Feldman, M.1
  • 16
    • 0345401653 scopus 로고
    • Bid, ask and transaction prices in a specialist market with heterogeneously informed traders
    • Glosten, L. and P.R. Milgrom, 1985, Bid, ask and transaction prices in a specialist market with heterogeneously informed traders, Journal of Financial Economics 17, 71-100.
    • (1985) Journal of Financial Economics , vol.17 , pp. 71-100
    • Glosten, L.1    Milgrom, P.R.2
  • 17
    • 84944832265 scopus 로고
    • On the efficiency of competitive stock markets where traders have diverse information
    • Grossman, S., 1976, On the efficiency of competitive stock markets where traders have diverse information, Journal of Finance 31, 573-585.
    • (1976) Journal of Finance , vol.31 , pp. 573-585
    • Grossman, S.1
  • 18
    • 84925971744 scopus 로고
    • An introduction to the theory of rational expectations under asymmetric information
    • Grossman, S., 1981, An introduction to the theory of rational expectations under asymmetric information, Review of Economic Studies 4, 541-559.
    • (1981) Review of Economic Studies , vol.4 , pp. 541-559
    • Grossman, S.1
  • 19
    • 0001188867 scopus 로고
    • On the impossibility of informationally efficient markets
    • Grossman, S. and J. Stiglitz, 1980, On the impossibility of informationally efficient markets, American Economic Review 70, 393-408.
    • (1980) American Economic Review , vol.70 , pp. 393-408
    • Grossman, S.1    Stiglitz, J.2
  • 21
    • 0001073135 scopus 로고
    • The use of knowledge in society
    • Hayek, F.A., 1945. The use of knowledge in society, American Economic Review 35, 519-530.
    • (1945) American Economic Review , vol.35 , pp. 519-530
    • Hayek, F.A.1
  • 22
    • 0000088496 scopus 로고
    • On the aggregation of information in competitive markets
    • Hellwig, M.F., 1980, On the aggregation of information in competitive markets, Journal of Economic Theory 22, 477-498.
    • (1980) Journal of Economic Theory , vol.22 , pp. 477-498
    • Hellwig, M.F.1
  • 24
    • 0000859303 scopus 로고
    • Continuous auctions and insider trading
    • Kyle, A.S., 1985, Continuous auctions and insider trading, Econometrica 56, no. 6, 1315-1335.
    • (1985) Econometrica , vol.56 , Issue.6 , pp. 1315-1335
    • Kyle, A.S.1
  • 25
    • 0000149467 scopus 로고
    • On the convergence of informational cascades
    • Lee, I., 1993, On the convergence of informational cascades, Journal of Economic Theory 61, 395-411.
    • (1993) Journal of Economic Theory , vol.61 , pp. 395-411
    • Lee, I.1
  • 27
    • 0010811640 scopus 로고
    • Rational asset-price movements without news
    • Romer, D., 1993, Rational asset-price movements without news, American Economic Review 83, no. 5, 1112-1130.
    • (1993) American Economic Review , vol.83 , Issue.5 , pp. 1112-1130
    • Romer, D.1
  • 29
    • 0000893807 scopus 로고
    • Do stock prices move too much to be justified by subsequent changes in dividends?
    • Shiller, J., 1981, Do stock prices move too much to be justified by subsequent changes in dividends?, American Economic Review 71, 421-436.
    • (1981) American Economic Review , vol.71 , pp. 421-436
    • Shiller, J.1
  • 34
    • 0000031985 scopus 로고
    • Market anticipations, rational expectation, and Bayesian analysis
    • Townsend, R.M., 1978, Market anticipations, rational expectation, and Bayesian analysis, International Economic Rewiew 19, no. 2, 481-494.
    • (1978) International Economic Rewiew , vol.19 , Issue.2 , pp. 481-494
    • Townsend, R.M.1
  • 35
    • 84960557125 scopus 로고
    • How fast do rational agents learn?
    • Vives, X., 1993, How fast do rational agents learn?, Review of Economic Studies 60, 329-347.
    • (1993) Review of Economic Studies , vol.60 , pp. 329-347
    • Vives, X.1
  • 37
    • 0010078908 scopus 로고
    • The speed of information revelation in a financial market mechanism
    • Vives, X., 1995b, The speed of information revelation in a financial market mechanism, Journal of Economic Theory 67, 178-204.
    • (1995) Journal of Economic Theory , vol.67 , pp. 178-204
    • Vives, X.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.