Purpose–The purpose of this paper is to provide a review of theory and empirical evidence
on herding behavior in financial markets. Design/methodology/approach–Review and …

This paper examines the extent to which herding and feedback trading behaviors drive price
dynamics across nine major cryptocurrencies. Using sample price data from bitcoin …

Fish travel in schools, birds migrate in flocks, honeybees swarm, and ants build trails. How
and why do these collective behaviors occur? Exploring how coordinated group patterns …

Herd literature suggests that people tend to discount their own beliefs and imitate others
when making adoption decisions and that the resulting adoption decisions are fragile and …

This paper develops a taxonomy of research examining the role of financial analysts in
capital markets. The paper builds on the perspectives provided by Schipper [Schipper …

We use mutual fund manager data from the technology bubble to examine the hypothesis
that inexperienced investors play a role in the formation of asset price bubbles. Using age as …

This article develops and implements a new test to investigate whether sell-side analysts
herd around the consensus when they make stock recommendations. Our empirical results …

When will a large group provide an accurate answer to a question involving quantity
estimation? We empirically examine this question on a crowd-based corporate earnings …

Using both a linear regression method and a probability-based method, we find that on
average, analysts place larger than efficient weights on (ie, they overweight) their private …

We develop and compare two theories of professional forecasters' strategic behavior. The
first theory, reputational cheap talk, posits that forecasters endeavor to convince the market …