The mood of a firm
Mood is information. A good mood signals a desire to cooperate; a bad mood warns of a determination to oppose. Firms may communicate by mood. The paper makes three points about the mood of a firm. First, mood can change. A change in mood affects everyone in the market. Second, there exists a strong tendency for a firm frustrated by poor communication to have bad mood. Bad mood amplifies behavioral responses. Third, the attendant risks of bubbles and panics are a concern about policies that encourage firms to communicate by mood.
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Volume (Year): 39 (2010)
Issue (Month): 6 (December)
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