Crowd response considering herd effect and exit familiarity under emergent occasions: A case study of an evacuation drill experiment

Chen, Anying; He, Jingtao; Liang, Muxuan; Su, Guofeng

doi:10.1016/j.physa.2020.124654

Cited by 17 publications

(4 citation statements)

References 30 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“… Kumar and Goyal (2016) defined that herding arise in the market when an investor does not have enough information and does not have certain knowledge to be relied upon for investment decision. Chen et al (2020) argued that herding tendency was observed because of lack of information or familiarity with the situation and on actions that have been done previously in the same situation. Due to lack of information of the investors involved in the habit of following other investors, they assume that they are better in processing the best option for investment in decision making.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Behavioral Biases on Herding Behavior of Investors in Islamic Financial Products

et al. 2021

View full text Add to dashboard Cite

The study aimed to investigate the impact of behavioral biases on herding for Islamic financial products with the mediation of shariah literacy. An adopted questionnaire from several published studies was used to collect data. The data were collected from 410 respondents and were analyzed with SmartPLS. The results for the direct impact showed that self-attribution, illusion of control, and information availability have a positive and significant impact on herding for Islamic financial products while shariah literacy showed an insignificant impact on herding. The results for mediation showed that previously significant and positive impact turned to insignificant when shariah literacy was introduced as mediating variable between the illusion of control, self-attribution, information availability, and herding. From a theoretical perspective, this study would contribute to the existing body of knowledge of financial decision making from shariah literacy point-out. On the other hand, the findings of this study may be useful for investors to avoid herding in the Islamic financial markets. The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of herding behavior in Islamic financial products with a mediating role of shariah literacy. The key limitation of the study includes data that were collected from three districts of Punjab, Pakistan.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Behavioral Biases on Herding Behavior of Investors in Islamic Financial Products

et al. 2021

View full text Add to dashboard Cite

show abstract

“…These factors can be mainly categorized into the internal, physical, and psychological characteristics and the external dynamic environment. More precisely, the internal factors mostly consist of gender, age, education level, health status, and familiarity with the surroundings (Chen, He, et al, 2020; Feliciani et al, 2020), while the external factors include travel distance, crowd distribution, congestion, visibility, and evacuation signage (Fu et al, 2021; Wu et al, 2021). All these factors contribute to the heterogeneity of individual exit choice preference in specific situations.…”

Section: Literature Reviewmentioning

confidence: 99%

An improved optimization model for crowd evacuation considering individual exit choice preference

Gao

Werner

et al. 2022

Transactions in GIS

View full text Add to dashboard Cite

Guidance‐assisted crowd evacuation is a process of combining individual exit choice behavior with managers' exit assignment control. The knowledge of individual exit choice preference is of great significance for optimizing global exit assignment planning. This study proposes an improved optimization model for crowd evacuation by integrating the individual‐level exit choice preference analysis with system‐level exit assignment optimization to represent more realistic crowd evacuation decisions. First, the impact factors of individual exit choice behavior are considered in a mixed logit model to predict the probability of each individual choosing each exit in specific situations. Second, a preference‐based exit filtering strategy is designed to analyze the sensible alternative exits for individuals or groups in multi‐scale evacuation cells. Finally, to pursue optimal exit assignment planning, a multi‐objective particle swarm optimization algorithm and an improved social force model are adopted to simulate the process of crowd evacuation and evaluate the performance of the specific exit assignment plans. The case study of an outdoor multiple‐exit scenario in Xi'an, China, indicates that the proposed model can help managers to understand the heterogeneity of individual evacuation behaviors. Furthermore, it will support more reliable and realistic evacuation decisions in real‐life situations than conventional plans that typically implement the top‐n strategy.

show abstract

“…22(c) shows that the spatial angle of 80° is consistent with the spatial angle of 0°, the most significant number of participants escaped from Exit 1, and the participants with the longest escape time escaped from Exit 1, and no participants escaped from Exit 3. This is because the participants are more familiar with Exit 1 and are more willing to escape to the exits they are familiar with during the escape process [53] .…”

Section: Methodsmentioning

confidence: 99%

Research on Spatial Information Transmission Efficiency and Capability of Safe Evacuation Signs

et al. 2022

View full text Add to dashboard Cite

Crowd response considering herd effect and exit familiarity under emergent occasions: A case study of an evacuation drill experiment

Cited by 17 publications

References 30 publications

The Impact of Behavioral Biases on Herding Behavior of Investors in Islamic Financial Products

The Impact of Behavioral Biases on Herding Behavior of Investors in Islamic Financial Products

An improved optimization model for crowd evacuation considering individual exit choice preference

Research on Spatial Information Transmission Efficiency and Capability of Safe Evacuation Signs

Contact Info

Product

Resources

About