The hipster effect is when people who oppose mainstream culture find out that their unique choices are similar to millions of other people. In an attempt to be different, they all end up looking the same.
Similar effects show up among investors and in other areas of the social sciences.
The bandwagon effect is a cognitive bias that causes people to do things simply because they believe that others are doing the same. This form of thinking can affect various types of decisions that people make, including how they dress, which political candidate they vote for, and what ideologies they adopt.
It serves as a mental shortcut that people instinctively use in order to make a decision quickly.
Specifically, bandwagon cues, which are signs that other people believe something or are doing something, can trigger the thought that “if other people like this, then I should too”.
Many people cheat on taxes-no mystery there. But many people don't, even if they wouldn't be caught-now, that's weird. Or is it? Psychologists are deeply perplexed by human moral behavior, because it often doesn't seem to make any logical sense. You might think that we should just be grateful for it.
Through a series of experiments, it was discovered that despite the temptation to be selfish, most people show selflessness.
This is particularly true when subjects were forced to make their decision under time pressure; people are prone to cooperation when they rely more on intuition.
Most of the psychological theories are verbal, but words can be imprecise. If "cooperation is intuitive", it needs to state when. And what does "intuitive" mean?
In order to solve this, computer simulations of society were developed.
You're probably not as effective at making decisions as you could be. This article explores Chip and Dan Heaths' new book, Decisive. It's going to help us make better decisions both as individuals and in groups. But before we get to that, you should think about a tough decision you're grappling with right now.
Narrow framing: The tendency to define our choices in binary terms. We ask, "should I, or shouldn't I?" instead of “What are the ways I could...?”
Confirmation bias: People tend to select the information that supports their preexisting attitudes, beliefs, and actions.
Short-term emotion: When we’ve got a difficult decision to make, our feelings occupy our minds. And this doesn't add any new information that could benefit us.
Overconfidence: People often think they know more than they actually do about how the future will unfold.