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Herd Behaviour

Herd Behaviour
AS & A2 Economics - Intensive Exam Coaching & Revision Workshops: Book Now! Stratford | Fulham | Bristol | Birmingham | Gateshead | Leeds | Manchester Monday, November 28, 2011 PrintEmailTweet This!Save to Favorites Professor Andrew Oswald from the University of Warwick delivered a pitch-perfect lecture on the significance of herd behaviour in his talk at the LSE tonight. Why has the Economics discipline been so tawdry in understanding better some of the Biology and Psychology behind the behaviour of groups? Herding is associated with behavioural traits such as copying, clustering, imitating and conformity. Paul Ormerod makes some revealing and instructive comments on copying in this excellent video from a recent RSA talk. One of Oswald’s arguments is that in the majority of circumstances, our natural, perhaps sub-conscious instincts to herd serve us well. It turns out that your relative position in the crowd matters a lot! Have a look at your wrists! Why does herding behaviour matter?

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