Herd Behavior

Kameda, Tatsuya; Hastie, Reid

doi:10.1002/9781118900772.etrds0157

Cited by 31 publications

(25 citation statements)

References 29 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…This shows that individuals' interests are often reshaped by collective interest. In fact, there are several terms specifically designated for the phenomenon, such as bandwagon effects (Liu et al, 2018), conformity (Smith and Haslam, 2017), and herd behavior (Kameda and Hastie, 2015). Therefore, the study hypothesizes that: H2: Individuals' friends and their support increase their level of interest.…”

Section: Research Methods Research Framework and Hypothesesmentioning

confidence: 98%

Exploring Consumers’ Interest in Choosing Sustainable Food

Hsu

Wang

et al. 2020

Front. Psychol.

View full text Add to dashboard Cite

In order for humans to achieve a healthier diet and maintain ecological balance, a new concept regarding sustainable food has been introduced. The aim of this study is, therefore, to explore consumers' interest in choosing sustainable food. The study utilized "Do Survey," an internet survey platform, to distribute questionnaires. Survey invitations were sent out in a snowball manner. Invitations were posted in multiple online communities and forwarded by various members to other sites; 333 valid responses were collected. The results show that family and friend support and health incentive are the two strongest predictors for sustainable food buying interest. Price accessibility, on the other hand, has no impact on interest. This is not to say that price accessibility does not influence behavior. It just means that it is not the factor that fosters interest. Once an individual is interested, she/he may still rely heavily on price accessibility in purchasing sustainable food.

show abstract

Section: Research Methods Research Framework and Hypothesesmentioning

confidence: 98%

Exploring Consumers’ Interest in Choosing Sustainable Food

Hsu

Wang

et al. 2020

Front. Psychol.

View full text Add to dashboard Cite

show abstract

“…Herd behaviour (i.e. an alignment of thoughts or behaviours of individuals in a group) occurs because individuals imitate each other [13][14][15] , even if each is a rational decision-maker 16 . Imitation is thought to be a cause of financial bubbles 12;17 , 'groupthink' 18 and volatility in cultural markets 19;20 .…”

mentioning

confidence: 99%

Social learning strategies regulate the wisdom and madness of interactive crowds

2019

View full text Add to dashboard Cite

Why groups of individuals sometimes exhibit collective 'wisdom' and other times maladaptive 'herding' is an enduring conundrum. Here we show that this apparent conflict is regulated by the social learning strategies deployed. We examined the patterns of human social learning through an interactive online experiment with 699 participants, varying both task uncertainty and group size, then used hierarchical Bayesian model-ftting to identify the individual learning strategies exhibited by participants. Challenging tasks elicit greater conformity amongst individuals, with rates of copying increasing with group size, leading to high probabilities of herding amongst large groups confronted with uncertainty. Conversely, the reduced social learning of small groups, and the greater probability that social information would be accurate for less-challenging tasks, generated 'wisdom of the crowd' effects in other circumstances. Our model-based approach provides evidence that the likelihood of collective intelligence versus herding can be predicted, resolving a longstanding puzzle in the literature.

show abstract

“…Herd behaviour (i.e. an alignment of thoughts or behaviours of individuals in a group) occurs because individuals imitate each other 13–15 , even if each is a rational decision-maker 16 . Imitation is thought to be a cause of financial bubbles 12;17 , ‘groupthink’ 18 and volatility in cultural markets 19;20 .…”

mentioning

confidence: 99%

Social learning strategies regulate the wisdom and madness of interactive crowds

Toyokawa

Whalen

Laland

2018

Preprint

View full text Add to dashboard Cite

Why groups of individuals sometimes exhibit collective ‘wisdom’ and other times maladaptive ‘herding’ is an enduring conundrum. Here we show that this apparent conflict is regulated by the social learning strategies deployed. We examined the patterns of human social learning through an interactive online experiment with 699 participants, varying both task uncertainty and group size, then used hierarchical Bayesian model-ftting to identify the individual learning strategies exhibited by participants. Challenging tasks elicit greater conformity amongst individuals, with rates of copying increasing with group size, leading to high probabilities of herding amongst large groups confronted with uncertainty. Conversely, the reduced social learning of small groups, and the greater probability that social information would be accurate for less-challenging tasks, generated ‘wisdom of the crowd’ effects in other circumstances. Our model-based approach provides evidence that the likelihood of collective intelligence versus herding can be predicted, resolving a longstanding puzzle in the literature.

show abstract

Herd Behavior

Cited by 31 publications

References 29 publications

Exploring Consumers’ Interest in Choosing Sustainable Food

Exploring Consumers’ Interest in Choosing Sustainable Food

Social learning strategies regulate the wisdom and madness of interactive crowds

Social learning strategies regulate the wisdom and madness of interactive crowds

Contact Info

Product

Resources

About