We might like to think that we make decisions based on our independent assessment. Not really. A new study by the Journal of Consumer Research called ‘Social Defaults: Observed Choices Become Choice Defaults’ suggests that we are prone to being copycats. Participants were asked to choose products. Rather than spending time learning about the product or asking questions, they simply mimicked the choices of the crowd. This phenomenon is also known as herding bias.
Can the defence sector continue firing after 100% gains?
Read More
