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Herd mentality is the tendency for people’s behavior or beliefs to conform to those of the group they belong to. The concept of herd mentality has been studied and analyzed from different perspectives, including biology, psychology and sociology. This psychological phenomenon can have profound impacts on human behavior.
Herd behavior is often a useful tool in marketing and, if used properly, can lead to increases in sales and changes to the structure of society. [28] Whilst it has been shown that financial incentives cause action in large numbers of people, herd mentality often wins out in a case of "Keeping up with the Joneses".
In social psychology, people's tendency to align their beliefs and behaviors with a group is known as 'herd mentality' or 'groupthink'. [8] The reverse bandwagon effect (also known as the snob effect in certain contexts) is a cognitive bias that causes people to avoid doing something, because they believe that other people are doing it. [9]
When market sentiment becomes extreme, investors usually run in two directions: one to buy and the other to sell. Those (small-f) foolish enough to buy into a company when all signs suggest ...
Wilfred Batten Lewis Trotter, FRS [1] (3 November 1872 – 25 November 1939) was an English surgeon, a pioneer in neurosurgery.He was also known for his studies on social psychology, most notably for his concept of the herd instinct, which he first outlined in two published papers in 1908, and later in his famous popular work Instincts of the Herd in Peace and War, an early classic of crowd ...
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Citigroup was one of the biggest losers during the past two days of the market's pullback -- at least when it comes to banks. But this morning, after opening 0.4% lower than yesterday's close, the ...
The selfish herd theory states that individuals within a population attempt to reduce their predation risk by putting other conspecifics between themselves and predators. [1] A key element in the theory is the domain of danger , the area of ground in which every point is nearer to a particular individual than to any other individual.
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