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Cui, W. (2008). Information costs and herd behavior in financial markets—For the improvement and expansion of BHW model [J]. Economic Science, 6, 91-99.

has been cited by the following article:

• TITLE: The Herd Behavior of Risk-Averse Investor Based on Information Cost

  AUTHORS: Guangming Deng

  KEYWORDS: Risk Avoidance; Information Cost; Herd Behavior

  JOURNAL NAME: Journal of Financial Risk Management, Vol.2 No.4, December 31, 2013

  ABSTRACT: In this paper, the traditional model of herd behavior was improved and extended. The herd behavior of risk-averse investor based on information cost was studied in the financial market. By refining the concept of Bayes equilibrium and the analysis of the behavior of investors, it was discovered that the herd behavior of the second risk-averse investor did not produce until the first risk-averse investors chose to buy information.