Herd behavior

Herd behavior is the behavior of individuals in a group acting collectively without centralized direction. Herd
behavior occurs in animals in herds, packs, bird flocks, fish schools and so on, as well as in humans.
Demonstrations, riots, general strikes,[1] sporting events, religious gatherings, everyday decision-making,
judgement and opinion-forming, are all forms of human based herd behavior.

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.[2] They suggested that bringing together diverse theoretical approaches of herding behavior
illuminates the applicability of the concept to many domains, ranging from cognitive neuroscience to
economics.[3]

Contents
In animals
Symmetry-breaking
In human societies: Early research
In markets and economic situations
Currency crises
Stock market bubbles
Economic theory of herding
Herd behavior in social and political contexts
In crowds
Sheeple
Everyday decision-making
In marketing
In brand and product success
In social marketing
See also
Notes
References
Further reading
External links

In animals
A group of animals fleeing from a predator shows the nature of herd behavior. In 1971, in the oft cited article
"Geometry For The Selfish Herd", evolutionary biologist W. D. Hamilton asserted that each individual group
member reduces the danger to itself by moving as close as possible to the center of the fleeing group. Thus the
herd appears as a unit in moving together, but its function emerges from the uncoordinated behavior of self-
serving individuals.[4]

Symmetry-breaking

Asymmetric aggregation of animals under panic conditions has been

observed in many species, including humans, mice, and ants.[5]
Theoretical models have demonstrated symmetry-breaking similar to
observations in empirical studies. For example, when panicked
individuals are confined to a room with two equal and equidistant
Play media
exits, a majority will favor one exit while the minority will favor the
Shimmering behaviour of Apis
other.
dorsata (giant honeybees)
Possible mechanisms for this behavior include Hamilton’s selfish herd
theory, neighbor copying, or the byproduct of communication by
social animals or runaway positive feedback.

Characteristics of escape panic include:

Individuals attempt to move faster than normal.

Interactions between individuals become physical.
Exits become arched and clogged.
Escape is slowed by fallen individuals serving as obstacles.
Individuals display a tendency towards mass or copied behavior.
Alternative or less used exits are overlooked.[4][6]

In human societies: Early research

The philosophers Søren Kierkegaard and Friedrich Nietzsche were among the first to criticize what they
referred to as "the crowd" (Kierkegaard) and "herd morality" and the "herd instinct" (Nietzsche) in human
society. 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. The British surgeon Wilfred
Trotter popularized the "herd behavior" phrase in his book, Instincts of the Herd in Peace and War (1914). 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. In "The
Metropolis and Mental Life" (1903), early sociologist George Simmel referred to the "impulse to sociability in
man", and sought to describe "the forms of association by which a mere sum of separate individuals are made
into a 'society' ". Other social scientists explored behaviors related to herding, such as Sigmund Freud (crowd
psychology), Carl Jung (collective unconscious), Everett Dean Martin (Behavior of Crowds) and Gustave Le
Bon (the popular mind).

Swarm theory observed in non-human societies is a related concept and is being explored as it occurs in
human society. Scottish journalist Charles Mackay identifies multiple facets of herd behaviour in his 1841
work, Extraordinary Popular Delusions and the Madness of Crowds.

In markets and economic situations

Currency crises
Currency crises tend to display herding behavior when foreign and domestic investors convert a government's
currency into physical assets (like gold) or foreign currencies when they realize the government is unable to
repay its debts. This is called a speculative attack and it will tend to cause moderate inflation in the short term.
When consumers realize that the inflation of needed commodities is increasing, they will begin to stockpile and
hoard goods, which will accelerate the rate of inflation even faster. This will ultimately crash the currency and
likely lead to civil unrest.

Stock market bubbles

Large stock market trends often begin and end with periods of frenzied buying (bubbles) or selling (crashes).
Many observers cite these episodes as clear examples of herding behavior that is irrational and driven by
emotion—greed in the bubbles, fear in the crashes. Individual investors join the crowd of others in a rush to
get in or out of the market.[7]

Some followers of the technical analysis school of investing see the herding behavior of investors as an
example of extreme market sentiment.[8] The academic study of behavioral finance has identified herding in
the collective irrationality of investors, particularly the work of Nobel laureates Vernon L. Smith, Amos
Tversky, Daniel Kahneman, and Robert Shiller.[9][a] Hey and Morone (2004) analyzed a model of herd
behavior in a market context.

Some empirical works on methods for detecting and measuring the extent of herding include Christie and
Huang (1995) and Chang, Cheng and Khorana (2000). These results refer to a market with a well-defined
fundamental value. A notable incident of possible herding is the 2007 uranium bubble, which started with
flooding of the Cigar Lake Mine in Saskatchewan, during the year 2006.[10][11][12]

Economic theory of herding

There are two strands of work in economic theory that consider why herding occurs and provide frameworks
for examining its causes and consequences.

The first of these strands is that on herd behavior in a non-market context. The seminal references are Banerjee
(1992) and Bikhchandani, Hirshleifer and Welch (1992), both of which showed that herd behavior may result
from private information not publicly shared. 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. A large subsequent literature has examined the causes and
consequences of such "herds" and information cascades, as surveyed by Golub and Sadler (2016).[13]

The second strands concerns information aggregation in market contexts. A very early reference is the classic
paper by Grossman and Stiglitz (1976) that showed that uninformed traders in a market context can become
informed through the price in such a way that private information is aggregated correctly and efficiently.
Subsequent work has shown that markets may systematically overweight public information;[14] it has also
studied the role of strategic trading as an obstacle to efficient information aggregation.[15]

Herd behavior in social and political contexts

In crowds
Crowds that gather on behalf of a grievance can involve herding behavior that turns violent, particularly when
confronted by an opposing ethnic or racial group. The Los Angeles riots of 1992, New York Draft Riots and
Tulsa Race Riot are notorious in U.S. history. The idea of a "group mind" or "mob behavior" was put forward
by the French social psychologists Gabriel Tarde and Gustave Le Bon.

Sheeple

Sheeple (/ˈʃiːpəl/;[16] a portmanteau of "sheep" and "people") is a derogatory term that highlights the passive
herd behavior of people easily controlled by a governing power or market fads which likens them to sheep, a
herd animal that is "easily" led about. The term is used to describe those who voluntarily acquiesce to a
suggestion without any significant critical analysis or research, in large part due to the majority of a population
having a similar mindset.[17] Word Spy defines it as "people who are meek, easily persuaded, and tend to
follow the crowd (sheep + people)".[18] Merriam-Webster defines the term as "people who are docile,
compliant, or easily influenced: people likened to sheep".[16] The word is pluralia tantum, which means it
does not have a singular form.

While its origins are unclear, the word was used by W. R. Anderson in his column Round About Radio,
published in London 1945, where he wrote:

The simple truth is that you can get away with anything, in government. That covers almost all
the evils of the time. Once in, nobody, apparently, can turn you out. The People, as ever (I spell it
"Sheeple"), will stand anything.[19]

Another early use was from Ernest Rogers, whose 1949 book The Old Hokum Bucket contained a chapter
entitled "We the Sheeple".[20] The Wall Street Journal first reported the label in print in 1984; the reporter
heard the word used by the proprietor of the American Opinion bookstore.[21] The term was first popularized
in the late 1980s and early 1990s by conspiracy theorist and broadcaster Bill Cooper on his radio program The
Hour of the Time which was broadcast internationally via shortwave radio stations. The program gained a
small, yet dedicated following, inspiring many individuals who would later broadcast their own radio
programs critical of the United States government. This then led to its regular use on the radio program Coast
to Coast AM by Art Bell throughout the 1990s and early 2000s. These combined factors significantly
increased the popularity of the word and led to its widespread use.

The term can also be used for those who seem inordinately tolerant, or welcoming, of widespread policies. In a
column entitled "A Nation of Sheeple", columnist Walter E. Williams writes, "Americans sheepishly accepted
all sorts of Transportation Security Administration nonsense. In the name of security, we've allowed fingernail
clippers, eyeglass screwdrivers, and toy soldiers to be taken from us prior to boarding a plane."[22]

Everyday decision-making

"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. Suppose that
both look appealing, but both are empty because it is early evening; so at random, this person chooses
restaurant A. Soon a couple walks down the same street in search of a place to eat. They see that restaurant A
has customers while B is empty, and choose A on the assumption that having customers makes it the better
choice. Because other passersby do the same thing into the evening, restaurant A does more business that night
than B. This phenomenon is also referred as an information cascade.[23][24][25][26]
In marketing
Herd behavior is often a useful tool in marketing and, if used properly, can lead to increases in sales and
changes to the structure of society. Whilst it has been shown that financial incentives cause action in large
numbers of people, herd mentality often wins out in a case of "Keeping up with the Joneses".

In brand and product success

Communications technologies have contributed to the proliferation to consumer choice and "the power of
crowds",[27] Consumers increasingly have more access to opinions and information from both opinion leaders
and formers on platforms that have largely user-generated content, and thus have more tools with which to
complete any decision-making process. Popularity is seen as an indication of better quality, and consumers will
use the opinions of others posted on these platforms as a powerful compass to guide them towards products
and brands that align with their preconceptions and the decisions of others in their peer groups.[28] Taking into
account differences in needs and their position in the socialization process, Lessig & Park examined groups of
students and housewives and the influence that these reference groups have on one another. By way of herd
mentality, students tended to encourage each other towards beer, hamburger and cigarettes, whilst housewives
tended to encourage each other towards furniture and detergent. Whilst this particular study was done in 1977,
one cannot discount its findings in today's society. A study done by Burke, Leykin, Li and Zhang in 2014 on
the social influence on shopper behavior shows that shoppers are influenced by direct interactions with
companions, and as a group size grows, herd behaviour becomes more apparent. Discussions that create
excitement and interest have greater impact on touch frequency and purchase likelihood grows with greater
involvement caused by a large group.[29] Shoppers in this Midwestern American shopping outlet were
monitored and their purchases noted, and it was found up to a point, potential customers preferred to be in
stores which had moderate levels of traffic. The other people in the store not only served as company, but also
provided an inference point on which potential customers could model their behavior and make purchase
decisions, as with any reference group or community.

Social media can also be a powerful tool in perpetuating herd behaviour. 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.[30] Gunawan and Huarng's 2015 study concluded that social influence is essential in
framing attitudes towards brands, which in turn leads to purchase intention.[31] Influencers form norms which
their peers are found to follow, and targeting extroverted personalities increases chances of purchase even
further.[30] This is because the stronger personalities tend to be more engaged on consumer platforms and thus
spread word of mouth information more efficiently.[32] Many brands have begun to realise the importance of
brand ambassadors and influencers, and it is being shown more clearly that herd behaviour can be used to
drive sales and profits exponentially in favour of any brand through examination of these instances.

In social marketing

Marketing can easily transcend beyond commercial roots, in that it can be used to encourage action to do with
health, environmentalism and general society. Herd mentality often takes a front seat when it comes to social
marketing, paving the way for campaigns such as Earth Day, and the variety of anti-smoking and anti-obesity
campaigns seen in every country. Within cultures and communities, marketers must aim to influence opinion
leaders who in turn influence each other,[33] as it is the herd mentality of any group of people that ensures a
social campaign's success. A campaign run by Som la Pera in Spain to combat teenage obesity found that
campaigns run in schools are more effective due to influence of teachers and peers, and students' high
visibility, and their interaction with one another. Opinion leaders in schools created the logo and branding for
the campaign, built content for social media and led in-school presentations to engage audience interaction. 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.[34] As mentioned
previously, students exert a high level of influence over one another, and by encouraging stronger personalities
to lead opinions, the organizers of the campaign were able to secure the attention of other students who
identified with the reference group.

Herd behaviour not only applies to students in schools where they are highly visible, but also amongst
communities where perceived action plays a strong role. Between 2003 and 2004, California State University
carried out a study to measure household conservation of energy, and motivations for doing so. It was found
that factors like saving the environment, saving money or social responsibility did not have as great an impact
on each household as the perceived behaviour of their neighbours did.[35] Although the financial incentives of
saving money, closely followed by moral incentives of protecting the environment, are often thought of as
being a community's greatest guiding compass, more households responded to the encouragement to save
energy when they were told that 77% of their neighbours were using fans instead of air conditioning, proving
that communities are more likely to engage in a behaviour if they think that everyone else is already taking
part.

Herd behaviours shown in the two examples exemplify that it can be a powerful tool in social marketing, and
if harnessed correctly, has the potential to achieve great change. 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.

See also
Anxiety Mean world syndrome
Argumentum ad populum Mob rule
Authority bias Moral panic
Bandwagon effect Panic buying
Collective behavior Political midlife crisis
Collective consciousness Riot
Collective effervescence Self-organization
Collective intelligence Slacktivism
Conformity Social proof
Crowd psychology Socionomics
Dumbing down Speaking truth to power
Freethought Spontaneous order
Group behavior Stampede
Groupthink Swarm intelligence
Herd mentality State collapse
Hive mind Superficiality
Ideocracy Symmetry breaking of escaping ants
Informational cascade Team player
Mass hysteria

Notes
a. ^ See for example the Wikipedia article on his book Irrational Exuberance.[9]
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cbi.nlm.nih.gov/18550863). S2CID 13627347 (https://api.semanticscholar.org/CorpusID:13627
347).

Further reading
Altshuler, E.; et al. (2005). "Symmetry Breaking in Escaping Ants" (https://semanticscholar.org/p
aper/8f9de034621cd7ee9aeaaa26d370b19995c099e8). The American Naturalist. 166 (6):
643–649. doi:10.1086/498139 (https://doi.org/10.1086%2F498139). PMID 16475081 (https://pu
bmed.ncbi.nlm.nih.gov/16475081). S2CID 7250726 (https://api.semanticscholar.org/CorpusID:
7250726).
Bikhchandani, Sushil; Hirshleifer, David; Welch, Ivo (1992). "A Theory of Fads, Fashion,
Custom, and Cultural Change as Informational Cascades". Journal of Political Economy. 100
(5): 992–1026. CiteSeerX 10.1.1.295.578 (https://citeseerx.ist.psu.edu/viewdoc/summary?doi=
10.1.1.295.578). doi:10.1086/261849 (https://doi.org/10.1086%2F261849). JSTOR 2138632 (ht
tps://www.jstor.org/stable/2138632). S2CID 7784814 (https://api.semanticscholar.org/CorpusID:
7784814).
Brunnermeier, Markus Konrad (2001). Asset Pricing under Asymmetric Information: Bubbles,
Crashes, Technical Analysis, and Herding. Oxford, UK; New York: Oxford University Press.
 Hamilton, W. D. (1970). "Geometry for the Selfish Herd". Journal of Theoretical Biology. Diss.
Imperial College. 31 (2): 295–311. doi:10.1016/0022-5193(71)90189-5 (https://doi.org/10.101
6%2F0022-5193%2871%2990189-5). PMID 5104951 (https://pubmed.ncbi.nlm.nih.gov/510495
1).
Hey, John D.; Morone, Andrea (2004). "Do Markets Drive out Lemmings—or Vice Versa?".
Economica. 71 (284): 637–659. doi:10.1111/j.0013-0427.2004.00392.x (https://doi.org/10.111
1%2Fj.0013-0427.2004.00392.x). JSTOR 3548984 (https://www.jstor.org/stable/3548984).
S2CID 153687859 (https://api.semanticscholar.org/CorpusID:153687859).
Rook, Laurens (2006). "An Economic Psychological Approach to Herd Behavior". Journal of
Economic Issues. 40 (1): 75–95. doi:10.1080/00213624.2006.11506883 (https://doi.org/10.108
0%2F00213624.2006.11506883). S2CID 151191884 (https://api.semanticscholar.org/CorpusI
D:151191884).
Martin, Everett Dean, The Behavior of Crowds, A Psychological Study, Harper & Brothers
Publishers, New York, 1920.
Ottaviani, Marco; Sorenson, Peter (2000). "Herd Behavior and Investment: Comment" (http://ww
w.aeaweb.org/articles.php?doi=10.1257/aer.90.3.695). American Economic Review. 90 (3):
695–704. doi:10.1257/aer.90.3.695 (https://doi.org/10.1257%2Faer.90.3.695). JSTOR 117352
(https://www.jstor.org/stable/117352).
Stanford, Craig B. (2001). "Avoiding Predators: Expectations and Evidence in Primate
Antipredator Behaviour". International Journal of Primatology. 23 (4): 741–757.
doi:10.1023/A:1015572814388 (https://doi.org/10.1023%2FA%3A1015572814388).
S2CID 34032535 (https://api.semanticscholar.org/CorpusID:34032535). Ebsco. Fall. Keyword:
Herd Behaviour.
Trotter, Wilfred (1914). The Instincts of the Herd in Peace and War.

External links
The dictionary definition of sheeple at Wiktionary

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