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[30] This is because the stronger personalities tend to be more engaged on consumer platforms and thus spread word of mouth information more efficiently. In The Theory of the Leisure Class, Thorstein Veblen explained economic behavior in terms of social influences such as "emulation," where some members of a group mimic other members of higher status. Modern psychological and economic research has identified herd behavior in humans to explain the phenomenon of large numbers of people acting in the same way at the same time. [9], How individuals in a group can act collectively without centralized direction, Herd behavior in social and political contexts, Bob Davis, "In New Hampshire, 'Live Free or Die' Is More Than a Motto," The Wall Street Journal, 1984, quoted online at, Extraordinary Popular Delusions and the Madness of Crowds, "Global Civil Unrest: Contagion, Self-Organization, and Prediction", "Striatal BOLD response reflects the impact of herd information on financial decisions", "Panic-induced symmetry breaking in escaping ants", "WNFM: A Focus on Fundamentals One Year After Fukushima", "Uranium Has Bottomed: Two Uranium Bulls to Jump on Now", "Herd on the street: Informational inefficiencies in a market with short-term speculation", "Herd behaviour and cascading in capital markets: A review and synthesis", "An Examination of Social Influence on Shopper Behavior Using Video Tracking Data", "A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades", Task allocation and partitioning of social insects, Obsessive–compulsive personality disorder, https://en.wikipedia.org/w/index.php?title=Herd_behavior&oldid=987986856#Sheeple, Articles with unsourced statements from May 2018, Creative Commons Attribution-ShareAlike License. used of flows, and akin to E. fly. Thus the herd appears as a unit in moving together, but its function emerges from the uncoordinated behavior of self-serving individuals.[4]. flock is defined by the lexicographers at Oxford Dictionaries as A number of birds of one kind feeding, resting, or travelling together. This is called a speculative attack and it will tend to cause moderate inflation in the short term. "[22], "Benign" herding behaviors may occur frequently in everyday decisions based on learning from the information of others, as when a person on the street decides which of two restaurants to dine in. Very fine, sifted, woolen refuse, especially that from shearing the nap of cloths, used as a coating for wall paper to give it a velvety or clothlike appearance; also, the dust of vegetable fiber used for a similar purpose. More specifically, both of these papers showed that individuals, acting sequentially on the basis of private information and public knowledge about the behavior of others, may end up choosing the socially undesirable option. Herd behavior occurs in animals in herds, packs, bird flocks, fish schools and so on, as well as in humans. It is clear that opinion leaders and their influence achieve huge reach among their reference groups and thus can be used as the loudest voices to encourage others in any collective direction. Raafat, Chater and Frith proposed an integrated approach to herding, describing two key issues, the mechanisms of transmission of thoughts or behavior between individuals and the patterns of connections between them. This then led to its regular use on the radio program Coast to Coast AM by Art Bell throughout the 1990s and early 2000s. It was thus concluded that the success of the campaign was rooted in the fact that its means of communication was the audience itself, giving the target audience a sense of ownership and empowerment. [13], The second strands concerns information aggregation in market contexts. What does the name Flock mean? [citation needed] Its immeasurable amount of user-generated content serves as a platform for opinion leaders to take the stage and influence purchase decisions, and recommendations from peers and evidence of positive online experience all serve to help consumers make purchasing decisions.

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