Market Watch: Information and Availability Cascades Among the Media and Investors in the U.S. IPO Market
研究了媒体和投资者如何根据他人行动的近期性和可得性来分配注意力和评估新上市公司，揭示了新公司价值在市场中形成的机制。
In this study we advance current research on social influence in markets by examining how the recency and availability of information about others' actions within and between different communities influence their allocation of attention and their evaluations. Specifically, we examine how the media and investors allocate attention to and evaluate newly public firms in the days following their initial public offerings (IPOs). Our findings have implications for understanding the fieldwide processes through which the value of new firms is established in markets.