{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,11]],"date-time":"2026-04-11T04:30:19Z","timestamp":1775881819265,"version":"3.50.1"},"reference-count":18,"publisher":"Elsevier BV","issue":"1","license":[{"start":{"date-parts":[[2004,11,1]],"date-time":"2004-11-01T00:00:00Z","timestamp":1099267200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Journal of Economic Theory"],"published-print":{"date-parts":[[2004,11]]},"DOI":"10.1016\/s0022-0531(03)00225-4","type":"journal-article","created":{"date-parts":[[2003,7,31]],"date-time":"2003-07-31T20:39:52Z","timestamp":1059683992000},"page":"128-150","source":"Crossref","is-referenced-by-count":125,"title":["Financial crises as herds: overturning the critiques"],"prefix":"10.1016","volume":"119","author":[{"given":"V.V.","family":"Chari","sequence":"first","affiliation":[]},{"given":"Patrick J.","family":"Kehoe","sequence":"additional","affiliation":[]}],"member":"78","reference":[{"key":"10.1016\/S0022-0531(03)00225-4_BIB1","doi-asserted-by":"crossref","first-page":"206","DOI":"10.1006\/jeth.1993.1067","article-title":"Finite bubbles with short sale constraints and asymmetric information","volume":"61","author":"Allen","year":"1993","journal-title":"J. Econ. Theory"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB2","first-page":"724","article-title":"Multidimensional uncertainty and herd behavior in financial markets","volume":"88","author":"Avery","year":"1998","journal-title":"Amer. Econ. Rev"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB3","doi-asserted-by":"crossref","first-page":"797","DOI":"10.2307\/2118364","article-title":"A simple model of herd behavior","volume":"107","author":"Banerjee","year":"1992","journal-title":"Quart. J. Econ"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB4","doi-asserted-by":"crossref","first-page":"992","DOI":"10.1086\/261849","article-title":"A theory of fads, fashion, custom, and cultural change in informational cascades","volume":"100","author":"Bikhchandani","year":"1992","journal-title":"J. Polit. Economy"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB5","unstructured":"G.A. Calvo, E.G. Mendoza, Mexico's balance-of-payments crisis: a chronicle of a death foretold, manuscript, University of Maryland, 1995."},{"key":"10.1016\/S0022-0531(03)00225-4_BIB6","first-page":"548","article-title":"Business as usual, market crashes, and wisdom after the fact","volume":"84","author":"Caplin","year":"1994","journal-title":"Amer. Econ. Rev"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB7","doi-asserted-by":"crossref","first-page":"1065","DOI":"10.2307\/2951507","article-title":"Information revelation and strategic delay in a model of investment","volume":"62","author":"Chamley","year":"1994","journal-title":"Econometrica"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB8","doi-asserted-by":"crossref","unstructured":"V.V. Chari, P.J. Kehoe, Hot money, Research Department Staff Report 228, Federal Reserve Bank of Minneapolis, 2003, forthcoming in J. Polit. Economy.","DOI":"10.21034\/sr.228"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB9","doi-asserted-by":"crossref","first-page":"91","DOI":"10.1111\/1467-937X.00123","article-title":"Self-fulfilling debt crises","volume":"67","author":"Cole","year":"2000","journal-title":"Rev. Econ. Stud"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB10","doi-asserted-by":"crossref","first-page":"603","DOI":"10.1016\/0014-2921(95)00073-9","article-title":"Rational herding in financial economics","volume":"40","author":"Devenow","year":"1996","journal-title":"Europ. Econ. Rev"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB11","doi-asserted-by":"crossref","first-page":"71","DOI":"10.1016\/0304-405X(85)90044-3","article-title":"Bid, ask, and transaction prices in a specialist market with heterogeneously informed traders","volume":"14","author":"Glosten","year":"1985","journal-title":"J. Finan. Econ"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB12","first-page":"393","article-title":"On the impossibility of informationally efficient markets","volume":"70","author":"Grossman","year":"1980","journal-title":"Amer. Econ. Rev"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB13","doi-asserted-by":"crossref","first-page":"1039","DOI":"10.1086\/262012","article-title":"Endogenous timing and the clustering of agents\u2019 decisions","volume":"103","author":"Gul","year":"1995","journal-title":"J. Polit. Economy"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB14","doi-asserted-by":"crossref","first-page":"395","DOI":"10.1006\/jeth.1993.1074","article-title":"On the convergence of informational cascades","volume":"61","author":"Lee","year":"1993","journal-title":"J. Econ. Theory"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB15","doi-asserted-by":"crossref","first-page":"741","DOI":"10.1111\/1467-937X.00066","article-title":"Market crashes and informational avalanches","volume":"65","author":"Lee","year":"1998","journal-title":"Rev. Econ. Stud"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB16","doi-asserted-by":"crossref","first-page":"265","DOI":"10.1016\/S0022-1996(96)01437-7","article-title":"The Mexican peso crisis","volume":"41","author":"Sachs","year":"1996","journal-title":"J. Int. Econ"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB17","doi-asserted-by":"crossref","first-page":"371","DOI":"10.1111\/1468-0262.00113","article-title":"Pathological outcomes of observational learning","volume":"68","author":"Smith","year":"2000","journal-title":"Econometrica"},{"key":"10.1016\/S0022-0531(03)00225-4_BIB18","doi-asserted-by":"crossref","first-page":"177","DOI":"10.1006\/game.1997.0562","article-title":"Learning from others","volume":"20","author":"Vives","year":"1997","journal-title":"Games Econ. Behav"}],"container-title":["Journal of Economic Theory"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0022053103002254?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0022053103002254?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2020,3,24]],"date-time":"2020-03-24T17:20:39Z","timestamp":1585070439000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S0022053103002254"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2004,11]]},"references-count":18,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2004,11]]}},"alternative-id":["S0022053103002254"],"URL":"https:\/\/doi.org\/10.1016\/s0022-0531(03)00225-4","relation":{"has-preprint":[{"id-type":"doi","id":"10.21034\/sr.316","asserted-by":"object"}]},"ISSN":["0022-0531"],"issn-type":[{"value":"0022-0531","type":"print"}],"subject":[],"published":{"date-parts":[[2004,11]]}}}