Detail publikace

Does Herd Behavior Arise Easier under Time Pressure? Experimental Approach.

Autor: PhDr. Lubomír Cingl Ph.D.,
Typ: Články v impaktovaných časopisech
Rok: 2013
Číslo: 22
ISSN / ISBN:
Publikováno v: Prague Economic Papers (forthcoming)
Místo vydání:
Klíčová slova: stádové chování, experimentální ekonomie
JEL kódy:
Citace: 558-582
Granty: GAUK No. 59110 - Vznikají informační kaskády v časové tísni častěji? Experimentální přístup.
Abstrakt: In this paper I explain individual propensity to herd and infer its relationship to time-pressure by conducting a laboratory experiment. I let subjects perform a simple cognitive task under different treatment conditions and levels of time pressure with the possibility to herd. The order of decision-making sequence is endogenous and the nature of the task is not probabilistic; rather I impose the uncertainty of private signal by different levels of time pressure. This is expected to make participants prone to imitate the behavior of others. The main findings are that the propensity to herd was not significantly influenced by different levels of time pressure. Heart-rate significantly increased over the baseline during performance of a task, but was not correlated to the subjectively stated level of stress, which suggests that time pressure may not automatically induce stress but increase effort instead. Moreover, heart-rate is significantly associated with the propensity to herd, but unexpectedly with a negative sign.
Ke stažení: submission - PEP
Srpen 2022
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