- Ackert, L.F., Church, B.K., Ely, K., 2008. Biases in Individual Forecasts: Experimental Evidence. The Journal of Behavioral Finance 9 (2), 53-61.
Paper not yet in RePEc: Add citation now
Ager, P., Kappler, M., Osterloh, S., 2009. The accuracy and efficiency of the Consensus Forecasts: A further application and extension of the pooled approach. International Journal of Forecasting 25 (1), 167-181.
Agranov, M., Schotter, A., 2012. Ignorance Is Bliss: An Experimental Study of the Use of Ambiguity and Vagueness in the Coordination Games with Asymmetric Payoffs. American Economic Journal: Microeconomics 4 (2), 77-103.
Anderson, L.R., Holt, C.A., 1997. Information cascades in the laboratory. The American Economic Review 87 (5), 847-862.
- Andres, P., Spiwoks, M., 1999. Prognosequalitätsmatrix – Ein methodologischer Beitrag zur Beurteilung der Güte von Kapitalmarktprognosen. Jahrbücher für Nationalökonomie und Statistik 219 (5-6), 513-542.
Paper not yet in RePEc: Add citation now
Arifovic, J., Evans, G., Kostyshyna, O., 2013. Are sunspots learnable? An experimental investigation in a simple general-equilibrium model. Bank of Canada, Working Paper No. 2013-14.
Asaad, C.T., 2012. Experimental finance: a cross–disciplinary exploration linking expectations and behaviours. International Journal of Behavioural Accounting and Finance 3 (3), 244-269.
Avery, C.N., Chevalier, J.A., 1999. Herding over the career. Economics Letters 63 (3), 327333.
Banerjee, A.V., 1992. A simple model of herd behavior. The Quarterly Journal of Economics 107 (3), 797-817.
Bar-Isaac, H., 2008. Transparency, career concerns, and incentives for acquiring expertise. The BE Journal of Theoretical Economics 12 (1), 1-15.
Bardsley, N., Mehta, J., Starmer, C., Sugden, R., 2010. Explaining Focal Points: Cognitive Hierarchy Theory versus Team Reasoning. The Economic Journal 120 (543), 40-79.
Batchelor, R., 2007. Bias in macroeconomic forecasts. International Journal of Forecasting 23 (2), 189-203.
- Batchelor, R., Dua, P., 1992. Conservatism and consensusâ€seeking among economic forecasters. Journal of Forecasting 11 (2), 169-181.
Paper not yet in RePEc: Add citation now
Batchelor, R.A., Dua, P., 1990. Product differentiation in the economic forecasting industry. International Journal of Forecasting 6 (3), 311-316.
Becker, O., Leitner, J., Leopold-Wildburger, U., 2005. Modelling judgmental forecasts under tabular and graphical data presentation formats, in: Schmidt, U., Traub, S. (Eds.), Advances in Public Economics: Utility, Choice and Welfare New York: Springer, 255-266.
Becker, O., Leitner, J., Leopold-Wildburger, U., 2007. Heuristic modeling of expectation formation in a complex experimental information environment. European Journal of Operational Research 176 (2), 975-985.
Becker, O., Leitner, J., Leopold-Wildburger, U., 2009. Expectation formation and regime switches. Experimental Economics 12 (3), 350-364.
Becker, O., Leitner, J., Leopoldâ€Wildburger, U., 2008. Modeling expectation formation involving several sources of information. German Economic Review 9 (1), 96-112.
- Bedke, N., Bizer, K., Spiwoks, M., 2009. Gregarious Analysts - Experimental Evidence for Reputational Herding. Journal of Money, Investment and Banking 12, 26-36.
Paper not yet in RePEc: Add citation now
Bernhardt, D., Campello, M., Kutsoati, E., 2006. Who herds?. Journal of Financial Economics 80 (3), 657-675.
Bikhchandani, S., Hirshleifer, D., Welch, I., 1992. A theory of fads, fashion, custom, and cultural change as informational cascades. Journal of Political Economy 100 (5), 9921026.
- Bizer, K., Scheier, J., Spiwoks, M., 2013. Planspiel Kapitalmarktprognose. Ein empirischer Vergleich der Prognosekompetenz von Amateuren und Experten. Sofia-Studien 13-2.
Paper not yet in RePEc: Add citation now
- Bofinger, P., Schmidt, R., 2003. On the reliability of professional exchange rate forecasts: An empirical analysis for the€/US-$ rate. Financial Markets and Portfolio Management 17 (4), 437-449.
Paper not yet in RePEc: Add citation now
Bosch-Domènech, A., Vriend, N.J., 2013. On the role of non-equilibrium focal points as coordination devices. Journal of Economic Behavior & Organization 94, 52-67.
Boyson, N.M., 2010. Implicit incentives and reputational herding by hedge fund managers. Journal of Empirical Finance 17 (3), 283-299.
- Brennscheidt, G., 1993. Predictive Behavior – An Experimental Study. Lecture Notes in Economics and Mathematical Systems 403. Berlin: Springer.
Paper not yet in RePEc: Add citation now
Brown, P.M., 1998. Experimental evidence on the importance of competing for profits on forecasting accuracy. Journal of Economic Behavior & Organization 33 (2), 259-269.
Chen, Q., Jiang, W., 2006. Analysts’ weighting of private and public information. Review of Financial Studies 19 (1), 319-355.
Chevalier, J., Ellison, G., 1999. Career concerns of mutual fund managers. The Quarterly Journal of Economics 114 (2), 389-432.
Clarke, J., Subramanian, A., 2006. Dynamic forecasting behavior by analysts: Theory and evidence. Journal of Financial Economics 80 (1), 81-113.
Clement, M.B., Tse, S.Y., 2005. Financial analyst characteristics and herding behavior in forecasting. The Journal of Finance 60 (1), 307-341.
Cooper, R.A., Day, T.E., Lewis, C.M., 2001. Following the leader: a study of individual analysts’ earnings forecasts. Journal of Financial Economics 61 (3), 383-416.
- Cote, J., Sanders, D., 1997. Herding behavior: Explanations and implications. Behavioral Research in Accounting 9, 20-45.
Paper not yet in RePEc: Add citation now
Crawford, V.P., Gneezy, U., Rottenstreich, Y., 2008. The power of focal points is limited: even minute payoff asymmetry may yield large coordination failures. The American Economic Review 98 (4), 1443-1458.
Devenov, A. Welch, I., 1996. Rational herding in financial economics. European Economic Review 40, 603-615.
Dovern, J., Weisser, J., 2011. Accuracy, unbiasedness and efficiency of professional macroeconomic forecasts: An empirical comparison for the G7. International Journal of Forecasting 27 (2), 452-465.
Duffy, J., Fisher, E.O.N., 2005. Sunspots in the Laboratory. The American Economic Review 95 (3), 510-529.
Duffy, J., Lai, E. K., Lim, W., 2013. Language and Coordination: An Experimental Study. Genesis - The Journal of Genetics and Development 11, 6-7.
Effinger, M.R., Polborn, M.K., 2001. Herding and anti-herding: A model of reputational differentiation. European Economic Review 45 (3), 385-403.
Ehrbeck, T., Waldmann, R., 1996. Why are professional forecasters biased? Agency versus behavioral explanations. The Quarterly Journal of Economics 111 (1), 21-40.
Elliott, G., Timmermann, A., 2008. Economic forecasting. Journal of Economic Literature 46 (1), 3-56.
Fehr, D., Heinemann, F., Llorente-Saguer, A., 2011. The Power of Sunspots: An Experimental Analysis. SFB 649 Discussion Paper No.070.
Feri, F., Irlenbusch, B., Sutter, M., 2010. Efficiency gains from team-based coordination -Large-scale experimental evidence. The American Economic Review 100 (4), 18921912.
Fischbacher, U., 2007. z-Tree: Zurich toolbox for ready-made economic experiments. Experimental Economics 10 (2), 171-178.
Froot, K.A., Scharfstein, D.S., Stein, J.C., 1992. Herd on the Street: Informational Inefficiencies in a Market with Shortâ€Term Speculation. The Journal of Finance 47 (4), 1461-1484.
Gallo, G.M., Granger, C.W., Jeon, Y., 2002. Copycats and Common Swings: The Impact of the Use of Forecasts in Information Sets. IMF staff Papers No 49 (1).
Graham, J.R., 1999. Herding among investment newsletters: Theory and evidence. The Journal of Finance 54 (1), 237-268.
Gregory, A.W., Smith, G.W., Yetman, J., 2001. Testing for forecast consensus. Journal of Business & Economic Statistics 19 (1), 34-43.
Greiner, B., 2004. An online recruitment system for economic experiments. GWDG Berichte 63, 79-93.
Gubaydullina, Z., Hein, O., Spiwoks, M., 2011. The Status Quo Bias of Bond Market Analysts. Journal of Applied Finance & Banking 1 (1), 31-51.
- Harvey, N., 2007. Use of heuristics: Insights from forecasting research. Thinking & Reasoning 13 (1), 5-24.
Paper not yet in RePEc: Add citation now
Hirshleifer, D., 1993. Managerial reputation and corporate investment decisions. Financial Management 22 (2), 145-145.
Holmstrom, B., 1999. Managerial incentive problems: A dynamic perspective. The Review of Economic Studies 66 (1), 169-182.
Hong, H., Kubik, J.D., 2003. Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts. The Journal of Finance 58 (1), 313-351.
Hong, H., Kubik, J.D., Solomon, A., 2000. Security analysts' career concerns and herding of earnings forecasts. The Rand Journal of Economics 31 (1), 121-144.
Jegadeesh, N., Kim, W., 2010. Do analysts herd? An analysis of recommendations and market reactions. Review of Financial Studies 23 (2), 901-937.
- Keynes, J.M., 1936. The General Theory of Employment, Interest and Money, London: Macmillan.
Paper not yet in RePEc: Add citation now
- Kim, M. S., Zapatero, F., 2009. Rational bias and herding in analysts’ recommendations. Marshall Research Paper Series, Working Paper FBE 08-10.
Paper not yet in RePEc: Add citation now
Kugler, T., Kausel, E.E., Kocher, M.G., 2012. Are groups more rational than individuals? A review of interactive decision making in groups. Wiley Interdisciplinary Reviews: Cognitive Science 3 (4), 471-482.
Lamont, O.A., 2002. Macroeconomic forecasts and microeconomic forecasters. Journal of Economic Behavior & Organization 48 (3), 265-280.
Laster, D., Bennett, P., Geoum, I.S., 1999. Rational bias in macroeconomic forecasts. The Quarterly Journal of Economics 114 (1), 293-318.
Laux, C., Probst, D.A., 2004. One signal, two opinions: strategic heterogeneity of analysts’ forecasts. Journal of Economic Behavior & Organization 55 (1), 45-66.
Lawrence, M., Goodwin, P., O'Connor, M., Önkal, D., 2006. Judgmental forecasting: A review of progress over the last 25years. International Journal of Forecasting 22 (3), 493-518.
Leitner, J., Leopold-Wildburger, U., 2011. Experiments on forecasting behavior with several sources of information–A review of the literature. European Journal of Operational Research 213 (3), 459-469.
- Leone, A., Wu, J., 2007. What does it take to become a superstar? Evidence from institutional investor rankings of financial analysts. University of Rochester working paper.
Paper not yet in RePEc: Add citation now
- Li, X., 2002. Performance, herding, and career concerns of individual financial analysts. EFA 2002 Berlin Meetings Discussion Paper.
Paper not yet in RePEc: Add citation now
Marimon, R., Spear, S.E., Sunder, S., 1993. Expectationally driven market volatility: an experimental study. Journal of Economic Theory 61 (1), 74-103.
- Marinovic, I., Ottaviani, M., Sorensen, P.N., 2011. Modeling Idea Markets: Between Beauty Contests and Prediction Markets, in: Williams, L.V. (Ed.), Prediction Markets: Theory and Applications. London: Routledge, 4-17.
Paper not yet in RePEc: Add citation now
Nagel, R., 1995. Unraveling in Guessing Games: An Experimental Study. The American Economic Review 85 (5), 1313-1326.
Ottaviani, M., Sorensen, P., 2000. Herd behavior and investment: Comment. The American Economic Review 90 (3), 695-704.
Ottaviani, M., Sorensen, P.N., 2006a. Professional advice. Journal of Economic Theory 126 (1), 120-142.
Ottaviani, M., Sorensen, P.N., 2006b. The strategy of professional forecasting. Journal of Financial Economics 81 (2), 441-466.
Ottaviani, M., Sorensen, P.N., 2006c. Reputational cheap talk. The Rand Journal of Economics 37 (1), 155-175.
Prendergast, C., Stole, L., 1996. Impetuous youngsters and jaded old-timers: Acquiring a reputation for learning. Journal of Political Economy 104 (6), 1105-1134.
Ramnath, S., Rock, S., Shane, P., 2008. The financial analyst forecasting literature: A taxonomy with suggestions for further research. International Journal of Forecasting 24 (1), 34-75.
Roos, M.W., Beugnot, J., Gürgüc, Z., Ovlisen, F.R., 2010. Coordination Failure Caused by Sunspots. Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010. Session: Experimental Game Theory No. F13-V2.
Scharfstein, D.S., Stein, J.C., 1990. Herd behavior and investment. The American Economic Review 80 (3), 465-479.
- Shurchkov, O., 2013. Sunspot Coordination in Dynamic Global Games. Wellesley College Working Paper.
Paper not yet in RePEc: Add citation now
- Spiwoks, M., 2004. External triggered herding bei Rentenmarkt-Analysten. Financial Markets and Portfolio Management 18 (1), 58-83.
Paper not yet in RePEc: Add citation now
- Spiwoks, M., Bedke, N., Hein, O., 2008. Forecasting the past: the case of US interest rate forecasts. Financial Markets and Portfolio Management 22 (4), 357-379.
Paper not yet in RePEc: Add citation now
- Spiwoks, M., Bedke, N., Hein, O., 2008. Topically Orientated Trend Adjustment and Autocorrelation of the Residuals – An Empirical Investigation of the Forecasting Behavior of Bond Market Analysts in Germany between 1989 and 2007, Wolfsburg Working Papers No. 08-03.
Paper not yet in RePEc: Add citation now
- Spiwoks, M., Bizer, K., Hein, O., 2005. Anchoring Near the Lighthouse: Bond Market Analysts’ Behavior Coordination by External Signal. Wolfsburg Working Papers No. 05-02.
Paper not yet in RePEc: Add citation now
Spiwoks, M., Hein, O., 2007. Die Währungs-, Anleihen-und Aktienmarktprognosen des Zentrums für Europäische Wirtschaftsforschung. AStA Wirtschafts-und Sozialstatistisches Archiv 1 (1), 43-52.
Stark, T., 1997. Macroeconomic forecasts and microeconomic forecasters in the survey of professional forecasters. Federal Reserve Bank of Philadelphia Working Paper No. 9710.
Stekler, H.O., 2007. The future of macroeconomic forecasting: Understanding the forecasting process. International Journal of Forecasting 23 (2), 237-248.
Stickel, S.E., 1992. Reputation and performance among security analysts. The Journal of Finance 47 (5), 1811-1836.
Trueman, B., 1994. Analyst forecasts and herding behavior. Review of Financial Studies 7 (1), 97-124.
Van Campenhout, G., Verhestraeten, J.F., 2010. Herding Behavior among Financial Analysts: a Literature Review. HUB Research Paper No. 39.
Weizsäcker, G., 2010. Do we follow others when we should? A simple test of rational expectations. The American Economic Review 100 (5), 2340-2360.
Welch, I., 1992. Sequential sales, learning, and cascades. The Journal of Finance 47 (2), 695732.
Welch, I., 2000. Herding among security analysts. Journal of Financial Economics 58 (3), 369-396.
Zarnowitz, V., Lambros, L.A., 1992. Consensus and uncertainty in economic prediction, in: Zarnowitz, V. (Ed.), Business Cycles: Theory, History, Indicators, and Forecasting. Chicago: University of Chicago Press, 492-518.
Zitzewitz, E., 2001a. Measuring herding and exaggeration by equity analysts and other opinion sellers. Graduate School of Business Stanford University Working Paper.
- Zitzewitz, E., 2001b. Opinion-producing agents: career concerns and exaggeration. Graduate School of Business Stanford University Working Paper.
Paper not yet in RePEc: Add citation now