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This paper examines theoretical literature and empirical data on the existence of herd behavior in the financial markets. It reviews both rational and irrational arguments for herd behavior and ultimately concludes that this behavior is irrational. This type of behavior is viewed as having a destabilizing effect on financial markets. This paper, therefore, reviews current regulations and recommends specific public policy initiatives to reduce its presence.
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Plotkin, Nelle Claire, "Irrationality in Financial Markets: An Analysis of Herd Behavior" (2014). Senior Projects Spring 2014. 213.
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