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I did it your way. An experimental investigation of peer effects in investment choices

Listed author(s):
  • Delfino, Alexia
  • Marengo, Luigi
  • Ploner, Matteo

We experimentally investigate imitation in investment choices and focus on cognitive aspects of decision making. At this aim, we manipulate three main dimensions of choice: time pressure, normative content of social information, and uncertainty of the investment. We document the existence of imitation. In line with our hypotheses, a piece of information which is more representative of average group behavior induces stronger imitation. Furthermore, higher time pressure fosters imitation. In contrast to our hypothesis, imitation is weaker for uncertain investments than for risky investments.

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File URL: http://www.sciencedirect.com/science/article/pii/S0167487016301428
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Article provided by Elsevier in its journal Journal of Economic Psychology.

Volume (Year): 54 (2016)
Issue (Month): C ()
Pages: 113-123

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Handle: RePEc:eee:joepsy:v:54:y:2016:i:c:p:113-123
DOI: 10.1016/j.joep.2016.03.005
Contact details of provider: Web page: http://www.elsevier.com/locate/joep

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