The Concept
In layman’s term the bandwagon effect refers to people doing certain things because other people are doing them, regardless of their own beliefs, which they may ignore or override. For instance, once a product becomes popular, more people tend to "get on the bandwagon" and buy it, too. The bandwagon effect has wide implications, but is commonly seen in politics and consumer behaviour. This effect in noticed and followed very much by the youth, where if people see many of their friends buying a particular phone, they could become more interested in buying that (Apple products for example).
When individuals make rational choices based on the information they receive from others, economists have proposed that information cascades can quickly form in which people decide to ignore their personal information signals and follow the behavior of others. Cascades explain why behavior is fragile—people understand that they are based on very limited information. As a result, fads form easily but are also easily dislodged. Such informational effects have been used to explain political bandwagons.
Read more about this topic: Bandwagon Effect
Famous quotes containing the word concept:
“Jesus abolished the very concept of “guilt”Mhe denied any cleavage between God and man. He lived this unity of God and man as his “glad tidings” ... and not as a prerogative!”
—Friedrich Nietzsche (1844–1900)
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—D.H. (David Herbert)