Read a page of a book before going to bed ~ sheep behavior
Case: Lemmings and the smell of apples committing suicide
Herd behaviors, also known as "herd behavior," refer to imitation and consistency in behavior. The term derives from the biological study of the characteristics of animal clusters.
Extended to human society, it is manifested in the adoption of the same thinking activities, similar behaviors, psychologically dependent on thinking, feeling, and acting like most people, in order to reduce the cost of taking action and obtain the greatest possible benefits.
Extended to financial markets, it refers to the behavior of investors whose behavior is influenced by other investors in the absence of information uncertainty, imitates the decisions of others, or relies too much on public opinion without considering private information. Investors' herd behavior is not conducive to the return on investment of individuals, nor to the stability of financial markets.
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