From smiley faces to stock markets: The Bandwagon Effect explained
In the late 90s, smiley face fashion became a widespread trend, with people buying and wearing clothing and accessories adorned with the iconic yellow smiley face logo 🙂 For a rebel child like myself, this trend didn't really suit me well, but I was carried away by its popularity. Despite never really liking them, I begged my mother to buy me smiley face t-shirts, lunch boxes, and more. Looking back, I still don't like them, not even for a pyjama top! So why did I desperately want them back then? As a behavioural scientist, I'd blame the Bandwagon Effect. The Bandwagon Effect refers to our habit of adopting certain behaviours or beliefs simply because many other people do the same. This phenomenon is often observed in consumer behaviour and political settings. The Bandwagon Effect is a specific instance of herd mentality, which is a broader term describing how individuals in a group can act collectively without centralized direction. Here are some examples of the Bandwago...