Plausibly Exogenous [1041] - IPO Demand (12/07/2022)
LHS Variable
Future behavior
RHS Variable
Experienced noise
Source of Exogenous Variation
In Indian initial public offerings (IPOs) that have excess demand, shares are often allocated to retail investors using randomized lotteries
- Anagol, Balasubramaniam, and Ramadorai (2021), “Learning from noise: Evidence from India’s IPO lotteries”