Herd behavior refers to the tendency of individuals to follow the actions or decisions of a larger group, often disregarding their own beliefs or information. This phenomenon is commonly observed in various contexts, such as finance, where investors may buy or sell stocks based on the actions of others, leading to market trends.
In social settings, herd behavior can manifest in activities like fashion choices or social movements, where people conform to popular opinions or behaviors. This collective behavior can be driven by the desire for acceptance, fear of missing out, or the belief that the group possesses more information than the individual.
