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Abstract(s)
Episodes of collective exuberance that recurrently hit the economy are, in this note, associated with sentiment propagation in a network of social relations. The pivotal role played by exuberant individuals will give place to a dynamic setting where limit cycles constitute the most plausible long-term outcome. Endogenous sentiment waves, with peaks and troughs of exuberance, are in this way identified in the context of a straightforward interaction scenario.
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Citation
Gomes, O. (2016) “Exuberance and Social Contagion.” Economics Bulletin, vol. 36, issue 3, pp. 1705-1714.