Informative social interactions

  • We design, field and exploit survey data from a representative sample of the French population to examine whether informative social interactions enter householdsístockholding decisions. Respondents report perceptions about their circle of peers with whom they interact about Önancial matters, their social circle and the population. We provide evidence for the presence of an information channel through which social interactions ináuence perceptions and expectations about stock returns, and financial behavior. We also find evidence of mindless imitation of peers in the outer social circle, but this does not permeate as many layers of financial behavior as informative social interactions do.

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Metadaten
Author:Luc Arrondel, Hector Calvo-Pardo, Chryssi Giannitsarou, Michael HaliassosORCiDGND
URN:urn:nbn:de:hebis:30:3-529577
URL:https://www.imfs-frankfurt.de/fileadmin/user_upload/IMFS_WP/IMFS_WP_136.pdf
Parent Title (English):Working paper series / Institute for Monetary and Financial Stability ; 136
Series (Serial Number):Working paper series / Institute for Monetary and Financial Stability (136)
Publisher:Johann Wolfgang Goethe-Univ., Inst. for Monetary and Financial Stability
Place of publication:Frankfurt am Main
Document Type:Working Paper
Language:English
Year of Completion:2019
Year of first Publication:2019
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2020/02/25
Tag:information networks; peer effects; portfolio choice; social interactions; subjective expectations
Page Number:56
HeBIS-PPN:460781979
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / Institute for Monetary and Financial Stability (IMFS)
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
JEL-Classification:C Mathematical and Quantitative Methods / C4 Econometric and Statistical Methods: Special Topics / C42 Classificaton Discontinued 2008. See C83.
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht