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The Concept of Herd Behaviour : Its Psychological and Neural Underpinnings

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2015

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Kameda, Tatsuya
Inukai, Keigo
Wisdom, Thomas

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https://doi.org/10.1093/acprof:oso/9780198723202.003.0002
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GRUNDMANN, Stefan, ed., Florian MÖSLEIN, ed., Karl RIESENHUBER, ed.. Contract Governance : Dimensions in Law and Interdisciplinary Research. Oxford: Oxford University Press, 2015, pp. 61-71. ISBN 978-0-19-872320-2. Available under: doi: 10.1093/acprof:oso/9780198723202.003.0002

Zusammenfassung

Herding is a key concept underlying various collective phenomena in an increasingly connected world, such as the recent global financial crisis and the spread of civil uprisings in the Middle East. In most cases, such convergences of thought and behaviour across populations emerge through local interactions among agents rather than purposeful coordination by a central authority or a leading figure. This chapter discusses the psychological and neural underpinnings of herd behaviour. It reviews recent evidence regarding the proximate mechanisms of herd behaviour including emotional contagion, facial mimicry, and mirror neurons on the neuropsychological side, and norm-abiding behaviour and information cascades on the behavioural-economic side. It also considers the relations between maladaptive herding and the wisdom of crowds, and argues that these apparently contrasting macro phenomena may be produced and governed by the same machinery: our highly socially-receptive minds.

Zusammenfassung in einer weiteren Sprache

Fachgebiet (DDC)
150 Psychologie

Schlagwörter

herding, emotional contagion, facial mimicry, mirror neurons, wisdom of crowds, group decision making, cultural market, socially-receptive minds

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ISO 690KAMEDA, Tatsuya, Keigo INUKAI, Thomas WISDOM, Wataru TOYOKAWA, 2015. The Concept of Herd Behaviour : Its Psychological and Neural Underpinnings. In: GRUNDMANN, Stefan, ed., Florian MÖSLEIN, ed., Karl RIESENHUBER, ed.. Contract Governance : Dimensions in Law and Interdisciplinary Research. Oxford: Oxford University Press, 2015, pp. 61-71. ISBN 978-0-19-872320-2. Available under: doi: 10.1093/acprof:oso/9780198723202.003.0002
BibTex
@incollection{Kameda2015Conce-54073,
  year={2015},
  doi={10.1093/acprof:oso/9780198723202.003.0002},
  title={The Concept of Herd Behaviour : Its Psychological and Neural Underpinnings},
  isbn={978-0-19-872320-2},
  publisher={Oxford University Press},
  address={Oxford},
  booktitle={Contract Governance : Dimensions in Law and Interdisciplinary Research},
  pages={61--71},
  editor={Grundmann, Stefan and Möslein, Florian and Riesenhuber, Karl},
  author={Kameda, Tatsuya and Inukai, Keigo and Wisdom, Thomas and Toyokawa, Wataru}
}
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