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Groupthink: Collective Delusions in Organizations and Markets

Roland Bénabou.

in The Review of Economic Studies

April 2013; p ublished online October 2012 .

Journal Article. Subjects: Financial Markets; Economics; Microeconomics; Economic Sociology; Prices, Business Fluctuations, and Cycles; Production and Organizations; Information, Knowledge, and Uncertainy. 17063 words.

This article investigates collective denial and willful blindness in groups, organizations, and markets. Agents with anticipatory preferences, linked through an interaction structure,...

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