An empirical application of herding behavior and compliance in the COVID‐19 crisis.
There is evidence that individuals engage in herding behavior in diverse settings, ranging from fashion choices to financial markets. By examining the exogenous shock caused by the outbreak of COVID‐19 and unique data measuring the footfalls in downtown Jönköping, Sweden, we empirically assess how i...
| Publicado en: | Kyklos Vol. 77; no. 2; pp. 428 - 458 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
May2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=176353689&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 176353689 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00235962 KYK jtl: Kyklos issn: 00235962 maglogo: Y pubinfo: dt: May2024 vid: 77 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 176353689 10.1111/kykl.12373 ppf: 428 ppct: 30 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1.6MB tig: atl: An empirical application of herding behavior and compliance in the COVID‐19 crisis. aug: au: Nilsson, Helena Backman, Mikaela affil: Center of Entrepreneurship and Spatial Economics (CEnSE), Jönköping International Business School, Jönköping, Sweden Institute of Retail Economics, Stockholm, Sweden su: Sweden COVID-19 pandemic Herding Animal herds Financial markets Regression analysis sug: subj: COVID-19 pandemic Sweden Securities and Commodity Exchanges Investment Banking and Securities Dealing Herding Animal herds Financial markets Regression analysis ab: There is evidence that individuals engage in herding behavior in diverse settings, ranging from fashion choices to financial markets. By examining the exogenous shock caused by the outbreak of COVID‐19 and unique data measuring the footfalls in downtown Jönköping, Sweden, we empirically assess how individuals respond to the restrictions imposed by the government and to the behavior of others, that is, herding. To this end, a regression discontinuity analysis with time as the running variable is applied. We find a negative effect of the restriction on footfalls, indicating that individuals follow the imposed governmental restrictions. However, we also find indications that individuals imitate the actions of others and engage in herd behavior even when the cost of doing so is very high; that is, it could result in severe illness or even death. With the use the unique setting of Sweden, where there have been no enforced lockdowns, we contribute with knowledge related to how effective voluntary restrictions are and the influence of others on one's decision making. Although the nature of the studied sample limits the external generalizability of the results, it may offer guidance for future interventions in clearly delineated settings. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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