Bulat, Sanditov; Robin, Cowan; Clemens, Kool - United Nations University-Maastricht Economic Research … - 2002
A model in which agents on both sides of the market are subject to informational cascades isexamined. In an uncertain environment with asymmetric information agents tend to beoveroptimistic about the state of the world, a result that fits with empirical evidence on financingnew technologies....