A Simple Model of Herd Behavior

By Abhijit Banerjee. 1992

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Citations in the corpus

Multiagent Learning: Basics, Challenges, and Prospects (2012, background): “…multiagent learning contexts were early ant systems and flocking or herding behavior (Manderick and Moyson 1988; Colorni, Dorigo, and Maniezzo 1992; Banerjee 1992), evolutionary computation (Manderick and Spiessens 1989; Steels 1987, 1988; Paredis 1995), social learning (Boyd and Richerson 1985;…”
Was There Too Little Entry During the Dot Com Era (2007, background): “The insights behind this reasoning were originally developed by Bikhchandani, Hirshleifer, and Welch (1992) and Banerjee (1992). See also Bikhchandani, Hirshleifer, and Welch (1998) for an overview of the literature on belief cascades, and Devenow and Welch (1996) or Hirshleifer and Teoh (2003) for ”
Capability Reconfiguration: An Analysis Of Incumbent Responses To Technological Change (2006, unknown): “Such behavior becomes likely under high levels of uncertainty, when only limited information about the consequences of the emerging technology is available and when the choices of other firms provide better clues than the incumbent’s own information (Banerjee, 1992).”
Why do people dislike inflation (2010, background): “As with any phenomenon that is widely discussed publicly, inflation is likely to be associated with the sort of herd effects described by Bikhchandani, Hirschleifer and Welch (1992) or Banerjee (1992).”
Evolutionary agglomeration theory: increasing returns, diminishing returns, and the industry life cycle (2011, background): “For instance, attracted by the greater returns within the agglomeration, and especially by the first-mover advantage (Lieberman and Montgomery, 1988), a growing number of firms begin to migrate and relocate to the agglomeration (i.e. herd behaviour) (Banerjee, 1992).”
Social Value of Public Information (2002, background): “Abhijit Banerjee (1992) and Sushil Bikhchandani, David Hirshleifer and Ivo Welch (1992) are early references.”
Herding among security analysts (2000, background): “…(1990), Froot et al. (1992), Hirshleifer et al. (1994), Scharfstein and Stein (1990) and Trueman (1994)); [5] informational externalities (e.g., Banerjee (1992); Bikhchandani et al., 1992; Rogers, 1983; Shiller, 1995; Welch, 1992); and [6] irrational agent behavior (e.g., DeLong et al., 1991).”
Prosocial Goal Pursuit in Crowdfunding: Evidence from Kickstarter (2019, unknown): “…making Bayesian inferences of a project’s quality from observing other backers’ actions and then making funding decisions based on their inferences (Banerjee 1992; Bikhchandani, Hirshleifer, and Welch 1992; Cui, Zhang, and Bassamboo 2018; Zhang and Liu 2012).1 In other words, other backers’…”