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2.75 AVERAGE
2.75 AVERAGE
Herding involves (1) imitation (2) is a group phenomenon, and (3) may be driven by unconscious motivations, but s not random.
I skimmed large parts of this book, because it contained well known examples (to me at least). We are social creatures and peer pressure/what others do, is important in shaping our behavior. From biology, it is also known there is safety in numbers (herds protect against predators). So this book is fairly shallow and does not add many novel ideas.
One of the quotes at the beginning summarizes the dilemma very well:
“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” ― John Maynard Keynes, The General Theory of Employment, Interest, and Money
https://www.goodreads.com/quotes/801915-worldly-wisdom-teaches-that-it-is-better-for-reputation-to
p264 (when describing work by Michael Weisberg): We need to devise incentives for contrarianism.
I skimmed large parts of this book, because it contained well known examples (to me at least). We are social creatures and peer pressure/what others do, is important in shaping our behavior. From biology, it is also known there is safety in numbers (herds protect against predators). So this book is fairly shallow and does not add many novel ideas.
One of the quotes at the beginning summarizes the dilemma very well:
“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” ― John Maynard Keynes, The General Theory of Employment, Interest, and Money
https://www.goodreads.com/quotes/801915-worldly-wisdom-teaches-that-it-is-better-for-reputation-to
p264 (when describing work by Michael Weisberg): We need to devise incentives for contrarianism.