Self-Fulfilling Prophecies of Failure: The Endogenous Balance Sheets of Distressed Companies
نویسندگان
چکیده
منابع مشابه
Self - Fulfilling Prophecies
After a quarter century of unbroken development in the theory of allocation under uncertainty, it has become an obvious fact that randomness in endowments, preferences or technology will generally work its way to the prices and allocations which prevail in equilibrium. Is it true, as intuition may suggest in haste, that random prices necessarily reflect some intrinsic uncertainty in the structu...
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We demonstrate that multiple stationary rational-expectations equilibria exist in a version of Lucas’s island economy. The existence of these equilibria follows from the fact that there is an indeterminate set of monetary equilibria in the two-period overlappinggenerations model. We show how to construct stationary rational-expectations equilibria by randomizing over the set of nonstationary mo...
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A core theme of social psychology is that perceivers can shape targets’ future behaviors through self-fulfilling prophecies. Self-fulfilling prophecies occur when perceivers’ false beliefs about targets initiate a sequence of events that ultimately cause targets to exhibit expectancy-consistent behaviors, thereby causing perceivers’ initially false beliefs to become true. This article reviews t...
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This research examined whether mothers' and fathers' beliefs about their children's alcohol use had cumulative self-fulfilling effects on their children's future drinking behavior. Analyses of longitudinal data acquired from 115 seventh-grade children and their mothers and fathers were consistent with synergistic accumulation effects for negative beliefs: Parents' beliefs predicted the greatest...
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Individuals influence each others' decisions about cultural products such as songs, books, and movies; but to what extent can the perception of success become a "self-fulfilling prophecy"? We have explored this question experimentally by artificially inverting the true popularity of songs in an online "music market," in which 12,207 participants listened to and downloaded songs by unknown bands...
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ژورنال
عنوان ژورنال: Abacus
سال: 2009
ISSN: 0001-3072,1467-6281
DOI: 10.1111/j.1467-6281.2009.00276.x