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Article dans une revue Journal of Economic Behavior and Organization Année : 2022

Informative social interactions

Résumé

Household finances are confidential and discussions are limited to a subset of peers. We collect novel representative survey data to examine separately whether interactions with inner and outer social circles influence return perceptions, expectations, and exposure to a widely known financial instrument in a developed economy with multiple information sources. We find that a respondent's connectedness, proxied by perceived prevalence of information or participation in the small financial circle, improves expectation accuracy indirectly, through boosting accuracy of perceived past returns; and influences stock participation and exposure not only by influencing expectations, but also directly.
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Dates et versions

halshs-03917459, version 1 (01-01-2023)

Licence

Paternité - CC BY 4.0

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Luc Arrondel, Hector Calvo-Pardo, Chryssi Giannitsarou, Michael Haliassos. Informative social interactions. Journal of Economic Behavior and Organization, 2022, 203, pp.246 - 263. ⟨10.1016/j.jebo.2022.09.006⟩. ⟨halshs-03917459⟩
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