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Herd Mentality
Herd mentality is the tendency for people’s behavior or beliefs to conform to those of the group they belong to. The concept of herd mentality has been studied and analyzed from different perspectives, including biology, psychology and sociology. This psychological phenomenon can have profound impacts on human behavior. Social psychologists study the related topics of collective intelligence, crowd wisdom, groupthink, and deindividuation. History The idea of a "group mind" or " mob behavior" was first put forward by 19th-century social psychologists Gabriel Tarde and Gustave Le Bon. Herd behavior in human societies has also been studied by Sigmund Freud and Wilfred Trotter, whose book '' Instincts of the Herd in Peace and War'' is a classic in the field of social psychology. Sociologist and economist Thorstein Veblen's '' The Theory of the Leisure Class'' illustrates how individuals imitate other group members of higher social status in their consumer behavior. More r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conformity
Conformity or conformism is the act of matching attitudes, beliefs, and behaviors to social group, group norms, politics or being like-minded. Social norm, Norms are implicit, specific rules, guidance shared by a group of individuals, that guide their interactions with others. People often choose to conform to society rather than to pursue personal desires – because it is often easier to follow the path others have made already, rather than forging a new one. Thus, conformity is sometimes a product of group communication. This tendency to conform occurs in small groups and/or in society as a whole and may result from subtle unconscious influences (predisposed mental state, state of mind), or from direct and overt social pressure. Conformity can occur in the presence of others, or when an individual is alone. For example, people tend to follow social norms when eating or when watching television, even if alone. Solomon Asch, a social psychologist whose obedience research remains a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Surowiecki
James Michael Surowiecki ( ; born April 30, 1967) is an American journalist. He was a staff writer at ''The New Yorker'', where he wrote a regular column on business and finance called "The Financial Page". Background Surowiecki was born in Meriden, Connecticut, and spent several childhood years in Mayagüez, Puerto Rico, where he received a junior high-school education from Southwestern Educational Society (SESO). He is a 1984 graduate of Choate Rosemary Hall and a 1988 alumnus of the University of North Carolina at Chapel Hill, where he was a Morehead Scholar. Surowiecki pursued PhD studies in American history on a Mellon Fellowship at Yale University from 1988 to 1995, but did not complete them. In 1995, he founded the now-defunct e-magazine ''Rogue'' and began a career in journalism. He lives in New Haven, Connecticut, and is married to The Yale Review editor Meghan O'Rourke. Career Surowiecki's writing has appeared in a wide range of publications, including ''The New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leeds University
The University of Leeds is a public research university in Leeds, West Yorkshire, England. It was established in 1874 as the Yorkshire College of Science. In 1884, it merged with the Leeds School of Medicine (established 1831) and was renamed Yorkshire College. It became part of the federal Victoria University in 1887, joining Owens College (which became the University of Manchester) and University College Liverpool (which became the University of Liverpool).Charlton, H. B. (1951) ''Portrait of a University''. Manchester: U. P.; chap. IV In 1904, a royal charter was granted to the University of Leeds by King Edward VII. Leeds is the tenth-largest university in the United Kingdom by total enrolment and receives over 68,000 undergraduate applications per year, making it the fourth-most popular university (behind Manchester, University College London and King's College London) in the UK by volume of applications. Leeds had an income of £1.05 billion in 2023–24, of which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swarthmore College
Swarthmore College ( , ) is a Private college, private Liberal arts colleges in the United States, liberal arts college in Swarthmore, Pennsylvania, United States. Founded in 1864, with its first classes held in 1869, Swarthmore is one of the earliest coeducational colleges in the United States. It was established as a college under the Quakers, Religious Society of Friends. By 1906, Swarthmore had dropped its religious affiliation and officially became Nonsectarian, non-sectarian. Swarthmore is an exclusively undergraduate four-year institution. It is a member of the Tri-College Consortium, a cooperative academic arrangement with Bryn Mawr College and Haverford College. Swarthmore is also affiliated with the University of Pennsylvania through the Quaker Consortium, which allows students to cross-register for classes at all four institutions. Swarthmore College alumni, Swarthmore's alumni include six Nobel Prize winners, 13 MacArthur Foundation fellows, as well as winners of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solomon Asch
Solomon Eliot Asch (September 14, 1907 – February 20, 1996) was a Polish people, Polish-United States of America, American Gestalt psychology, Gestalt psychologist and pioneer in social psychology. He created seminal pieces of work in impression formation, prestige suggestion, Asch conformity experiments, conformity, and many other topics. His work follows a common theme of Gestalt psychology that the whole is not only greater than the sum of its parts, but the nature of the whole fundamentally alters the parts. Asch stated: "Most social acts have to be understood in their setting, and lose meaning if isolated. No error in thinking about social facts is more serious than the failure to see their place and function". Asch is most well known for his conformity experiments, in which he demonstrated the influence of group pressure on opinions. A ''Review of General Psychology'' survey, published in 2002, ranked Asch as the 41st most cited psychologist of the 20th century. Early li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asch Conformity Experiments
In psychology, the Asch conformity experiments were, or the Asch paradigm was, a series of studies directed by Solomon Asch studying if and how individuals yielded to or defied a majority (sociology), majority group and the effect of such influences on beliefs and opinions.Asch, S.E. (1952b). "Social psychology". Englewood Cliffs, NJ:Prentice Hall. Developed in the 1950s, the methodology remains in use by many researchers. Uses include the study of conformity effects of Conformity#Different stimuli, task importance, Conformity#Age, age, Conformity#Gender, sex, and Conformity#Culture, culture. Initial conformity experiment Rationale Many early studies in social psychology were adaptations of earlier work on "suggestibility" whereby researchers such as Edward Thorndike, Edward L. Thorndyke were able to shift the preferences of adult subjects towards majority or expert opinion. Still the question remained as to whether subject opinions were actually able to be changed, or if su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market Crash
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a bull market) and excessive economic optimism, a market where price–earnings ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large corporate hacks, changes in federal laws and regulations, and natural disasters within economically productive areas may also influence a significant decline i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Bubble
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greed And Fear
Greed and fear refer to two opposing emotional states theorized as factors causing the unpredictability and volatility of the stock market, and irrational market behavior inconsistent with the efficient-market hypothesis. Greed and fear relate to an old Wall Street saying: "financial markets are driven by two powerful emotions – greed and fear." Greed and fear are among the animal spirits that Keynes identified as profoundly affecting economies and markets. Warren Buffett found an investing rule in acting contrary to such prevailing moods, advising that the timing of buying or selling stocks should be "fearful when others are greedy and greedy only when others are fearful." He uses the overall Market capitalization-to- GDP ratio to indicate relative value of the stock market in general, hence this ratio has become known as the "Buffett indicator". Greed Greed is usually described as an irresistible craving to possess more of something (money, material goods) than one act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amos Tversky
Amos Nathan Tversky (; March 16, 1937 – June 2, 1996) was an Israeli cognitive and mathematical psychologist and a key figure in the discovery of systematic human cognitive bias and handling of risk. Much of his early work concerned the foundations of measurement. He was co-author of a three-volume treatise, ''Foundations of Measurement''. His early work with Daniel Kahneman focused on the psychology of prediction and probability judgment; later they worked together to develop prospect theory, which aims to explain irrational human economic choices and is considered one of the seminal works of behavioral economics. Six years after Tversky's death, Kahneman received the 2002 Nobel Memorial Prize in Economic Sciences for work he did in collaboration with Amos Tversky. While Nobel Prizes are not awarded posthumously, Kahneman has commented that he feels "it is a joint prize. We were twinned for more than a decade." Tversky also collaborated with many leading researchers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vernon L
Vernon may refer to: Places Australia *Vernon County, New South Wales Canada * Vernon, British Columbia, a city * Vernon, Ontario France * Vernon, Ardèche *Vernon, Eure United States * Vernon, Alabama * Vernon, Arizona * Vernon, California * Lake Vernon, California * Vernon, Colorado * Vernon, Connecticut * Vernon, Delaware * Vernon, Florida, a city * Vernon Lake (Idaho) * Vernon, Illinois * Vernon, Indiana * Vernon, Kansas * Vernon Community, Hestand, Kentucky * Vernon Parish, Louisiana ** Vernon Lake, a man-made lake in the parish * Vernon, Michigan * Vernon Township, Isabella County, Michigan * Vernon Township, Shiawassee County, Michigan * Vernon, Jasper County, Mississippi * Vernon, Madison County, Mississippi * Vernon, Winston County, Mississippi * Vernon Township, New Jersey * Vernon (town), New York ** Vernon (village), New York * Vernon (Mount Olive, North Carolina), a historic plantation house * Vernon Township, Crawford County, Ohio * Vernon To ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
