Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7244357 | Journal of Economic Psychology | 2016 | 11 Pages |
Abstract
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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Authors
Alexia Delfino, Luigi Marengo, Matteo Ploner,