Detail Strategic Delay and The Onset of Investment Cascades   Oleh:  Zhang, Jianbo Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 28 no. 1 (1997), page 188-205. Topik: investment; strategic delay; onset; investment cascades Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel I study the phenomenon of herd behaviour in a framework where agents can endogenously choose both the actions and the timing of their actions. I assume that agents may have privately known quality and content of information. A unique symmetric equilibrium in pure strategies is proved to exist and characterized in its closed form. An investment cascade always occurs in the equilibrium, and a strategic delay is shown to exist before the sudden onset of the investment cascade. I also examine the loss of welfare from delay and information cascade. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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