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Social proof (or informational social influence) is a psychological and social phenomenon wherein people copy the actions of others in choosing how to behave in a given situation. The term was coined by Robert Cialdini in his 1984 book Influence: Science and Practice .
Trickle-up economics (also known as bubble-up economics) is an economic policy proposition that final demand among a broad population can stimulate national income in an economy. The trickle-up effect states that policies that directly benefit lower income individuals will boost the income of society as a whole, and thus those benefits will ...
An economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify.
The perceived failure of the Cincinnati Time Store has been used as an analogy to suggest that cryptocurrencies like Bitcoin are a "speculative bubble" waiting to burst, according to economist Robert J. Shiller. [34] In 2019, Shiller published Narrative Economics.
A social-proof heuristic refers to the tendency of people to look at the behavior of others to help guide their own behavior. Studies have found some success in using social-proof heuristics to nudge people to make healthier food choices.
The "retirement planning evangelist" and professor of economics at Boston University says that paying for all projected benefits through time requires “an immediate and permanent hike” in the ...
As ABC continues to crunch the numbers to see if Home Economics warrants renewal, here’s a potentially encouraging sign: ABC Signature and Lionsgate, the studios behind the show, have extended ...
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. [1] Social preferences are studied extensively in behavioral and experimental economics and social psychology.