Research on the Ways the Herd Behavior Effect Affecting People's Decision-Making

Research Article
Open access

Research on the Ways the Herd Behavior Effect Affecting People's Decision-Making

Yechen Yang 1
  • 1 Rutgers Business School, Rutgers University, New Brunswick, The United States of America, 08854    
  • *corresponding author
Published on 1 March 2023 | https://doi.org/10.54254/2753-7048/3/2022554
LNEP Vol.3
ISSN (Print): 2753-7056
ISSN (Online): 2753-7048
ISBN (Print): 978-1-915371-09-6
ISBN (Online): 978-1-915371-10-2

Abstract

A few crazy things happened in the stock market; it is interesting to start research on Herd Behavior through an experiment that was done by the author at Rutgers University. After 120 Rutgers students’ help, author was able to prove that Herd Behavior occurred because of the social pressure from other people and the lack of the knowledge of from the person and it is important to figured out how can Herd Behavior impact people’s decision-making process, so we can diminishing the Herd Behavior effect when we are making the decision.

Keywords:

Group Reference Effect, ASCH Conformity Experiment, Capital Market., Herd Behavior, Non-Probability Sampling

Yang,Y. (2023). Research on the Ways the Herd Behavior Effect Affecting People's Decision-Making. Lecture Notes in Education Psychology and Public Media,3,955-958.
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References

[1]. Mcleod,Saul.“Solomon Asch-Conformity Experiment.”Asch Conformity Experiment|Simply Psychology,https://www.simplypsychology.org/asch-conformity.html.

[2]. “Herd Behavior.”https://wiki.mbalib.com/wiki/Herd_behavior.

[3]. “GameStop Corp.(GME)Stock Price,News,Quote&History.”Yahoo!Finance,Yahoo!,12 June 2022,https://finance.yahoo.com/quote/GME?p=GME&.tsrc=fin-srch.

[4]. Yangyan Cai.“Zhiku.”Herd Behavior in Finacial World,http://www.jsthinktank.com/wap/zhihuijiangsu/jingji/201805/t20180522_5406140.shtml.

[5]. “Herd Behavior.”Jinashu,https://www.jianshu.com/p/5c300f9e3ffa.

[6]. yang,yechen.“Cornell University-Research Method-Herd Behavior.”Google Slides:Sign-In,Google,https://docs.google.com/presentation/d/1Rpeqfd0YlK9jXSoaOqf7cYQUXKf7Q9JXyPrNj07djw4/edit?usp=sharing.

[7]. Landsberg,Gary M.,and Sagi Denenberg.“Social Behavior of Sheep-Behavior.”Merck Veterinary Manual,Merck Veterinary Manual,1 June 2022,https://www.merckvetmanual.com/behavior/normal-social-behavior-and-behavioral-problems-of-domestic-animals/social-behavior-of-sheep#:~:text=Sheep%20display%20an%20intensely%20gregarious,and%20one%20or%20more%20males.


Cite this article

Yang,Y. (2023). Research on the Ways the Herd Behavior Effect Affecting People's Decision-Making. Lecture Notes in Education Psychology and Public Media,3,955-958.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 3rd International Conference on Educational Innovation and Philosophical Inquiries (ICEIPI 2022), Part II

ISBN:978-1-915371-09-6(Print) / 978-1-915371-10-2(Online)
Editor:Abdullah Laghari, Nasir Mahmood
Conference website: https://www.iceipi.org/
Conference date: 4 August 2022
Series: Lecture Notes in Education Psychology and Public Media
Volume number: Vol.3
ISSN:2753-7048(Print) / 2753-7056(Online)

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References

[1]. Mcleod,Saul.“Solomon Asch-Conformity Experiment.”Asch Conformity Experiment|Simply Psychology,https://www.simplypsychology.org/asch-conformity.html.

[2]. “Herd Behavior.”https://wiki.mbalib.com/wiki/Herd_behavior.

[3]. “GameStop Corp.(GME)Stock Price,News,Quote&History.”Yahoo!Finance,Yahoo!,12 June 2022,https://finance.yahoo.com/quote/GME?p=GME&.tsrc=fin-srch.

[4]. Yangyan Cai.“Zhiku.”Herd Behavior in Finacial World,http://www.jsthinktank.com/wap/zhihuijiangsu/jingji/201805/t20180522_5406140.shtml.

[5]. “Herd Behavior.”Jinashu,https://www.jianshu.com/p/5c300f9e3ffa.

[6]. yang,yechen.“Cornell University-Research Method-Herd Behavior.”Google Slides:Sign-In,Google,https://docs.google.com/presentation/d/1Rpeqfd0YlK9jXSoaOqf7cYQUXKf7Q9JXyPrNj07djw4/edit?usp=sharing.

[7]. Landsberg,Gary M.,and Sagi Denenberg.“Social Behavior of Sheep-Behavior.”Merck Veterinary Manual,Merck Veterinary Manual,1 June 2022,https://www.merckvetmanual.com/behavior/normal-social-behavior-and-behavioral-problems-of-domestic-animals/social-behavior-of-sheep#:~:text=Sheep%20display%20an%20intensely%20gregarious,and%20one%20or%20more%20males.