• Multidimensional Uncertainty and Herd Behavior in Financial Markets 

  Avery, Christopher; Zemsky, Peter (American Economic Association, 1998)

  We study the relationship between asset prices and herd behavior, which occurs when traders follow the trend in past trades. When traders have private information on only a single dimension of uncertainty (the effect of a ...

• Resistance to Reform: Status Quo Bias in the Presence of Individual- Specific Uncertainty 

  Fernandez, Raquel; Rodrik, Dani (American Economic Association, 1991)

  Why do governments so often fail to adopt policies which economists consider to be efficiency-enhancing? Our answer to this question relies on uncertainty regarding the distribution of gains and losses from reform. We ...

• Mentoring and Diversity 

  Athey, Susan; Avery, Christopher; Zemsky, Peter (American Economic Association, 2000)

  We study how diversity evolves at a firm with entry-level and upper-level employees who vary in ability and "type" (gender or ethnicity). The ability of entry-level employees is increased by mentoring. An employee receives ...

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