Herd Instinct

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Herd Instinct

A sociological phenomenon in which everyone does what everyone else seems to be doing. In investing, the herd instinct is seen most commonly in panic sells and rallies that occur without regard for broader indicators. That is, regardless of the sustainability of a rally or the overreaction of the sell-off, the concept of a herd instinct suggests that traders will continue to follow the trend until contrary evidence becomes overwhelming (or simply until they calm down). See also: Behavioral economics, Crowd.
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need to start incorporating our social instincts into our idealization of rational agency.
It originated in the social instincts shared by most animals and was in its early stages largely guided by social approval and disapproval, as I have already noted, but over and above all that, it came to be also "ruled by reason, self-interest, and in later times by deep religious feelings, and confirmed by instruction and habit" to become what we experience today as our moral conscience.
Zak quotes one of Smith's contemporaneous admirers, Thomas Jefferson, on the role of the social instincts in awakening the moral imagination: ".
The aid which we feel impelled to give to the helpless is mainly an incidental result of the instinct of sympathy, which was originally acquired as part of the social instincts, but widely diffused.
The double-edged nature of social instincts means that collaboration requires much more than just pairing up two people and pointing them up the mountain.
Later on your social instincts can be stoked up or others can be keen to draw you out into the social milieu.
First, social animals exhibit social instincts of mutual benefit.
In technical terms, our social instincts continued for the most part to co-evolve with our physical evolution.
The most widely accepted belief: "Humans have built-in social instincts to do things as a group," says Robert Provine, a psychologist at the University of Maryland.
But to argue in this way is not to compare like with like: to say that is not only to state a simple biological fact but to go with the grain of the deepest social instincts of the overwhelming majority of humankind.
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