Investment Busts, Reputation, and the Temptation to Blend in with the Crowd

Steven Grenadier, Andrey Malenko, Ilya A. Strebulaev

NBER Working Paper No. 17945
Issued in March 2012

---- Acknowledgements -----

We thank Robert Gibbons, Deborah Lucas, Nadya Malenko, Kelly Shue, Youchang Wu (ASU WFC discussant), seminar participants at Massachusetts Institute of Technology, New Economic School, Ohio State University, Stanford University, University of Rochester, University of Virginia, and Washington University in St. Louis, and participants at the 2012 ASU Sonoran Winter Finance Conference for their helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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