What is a Bandwagon Effect Bias?
Bandwagon Effect Bias is the tendency to do (or believe) things
because many other people do (or believe) the same. It is an example of Cognitive
Bias.
Without examining the merits of the particular thing, people
tend to "follow the crowd." Sometimes this cognitive bias is referred to as
the Herd Instinct.
Surely this bias is a strong force behind many financial crises.
This human tendency is particularly relevant for investors, leaders of
organizations, communication specialists and management consultants.
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Quotes on Following the Crowd. Quotations
Hi, do you know of a remarkable, humorous quote by a famous person or a proverb related to following the crowd, herd behavior or the bandwagon effect?
“Collective fear stimulates herd instinct, and...
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Pluralistic Ignorance and the Abilene Paradox Problems in Group Decision Making
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The Importance of Customer Differences in Markets with Network Effects: the Limits of Scale Network Effect, Network Strategy, First Mover Advantage, Second-mover Strategy, Customer Intimacy, Market Segmentation
The network effect (Metcalfe's Law) is the phenomenon that the value of a product or service increases (exponentially) w...
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How to Avoid Being Misguided by Experience-based Biases Analogical Strategic Reasoning, Decision-making, Cognitive Bias, Bandwagon Effect, Confirmation Bias, Anchoring
We often make decisions based on past experiences and judge the future. However, our past experience can sometimes misgu...
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Avoiding bandwagon Bias in your Team Team Formation, Expert Power, Group Decision-making, Extroversion, Introversion
In a short article, Bonner and Bolinger describe a surprisingly simple process to beef up the problem solving and/or dec...
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The Fatal Coaching Mistake by Managers Coaching, Mentoring, Management, Leadership
Managers and executives often don't realize how much influence they have over their staff, by just being their superior...
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Critical Thinking in Decision Making Critical Thinking, Testing Assumptions, Avoiding Fallacies, Avoiding Biases, Dealing with Emotions
Presentation about critical thinking for decision making, including the following sections:
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Group Influences and Opinion Leadership Groupthink, Group Dynamics, Word of Mouth Marketing, Sales, Opinion Leadership, Convincing People, Persuation
Presentation about Group Influences, including various related concepts such as the Social Comparison Theory and Word-of...
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Compare also: Core
Groups | Groupthink
| Spiral of
Silence | Abilene
Paradox | Black Swan Theory
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