Saturday, April 21, 2012

Herd behavior. Another perspective

We have this inner perception that whatever in high demand is of high quality. So aware o it or not, we tend to pursue whatever others are after.

"copying explains why mate choice is highly unanimous even when mate choice correlates poorly with observable characteristics of male or their site."
Bikhchandani, Hirshleifer and Welch (JPE 1992)

This can also explain why people want to be likely others, because they consider being liked as an indication of inner quality and hence it can increase self-worth.

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