A Simple Model of Herd Behavior (Banerjee, 1992) on “Papers I Reread”, a list by Leo Santana on TheLysts.
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Why people copy each other’s choices even when they have private info.
My take
If you’ve ever watched a line suddenly form outside a random Wynwood spot, you already get this. Great for understanding bubbles, fads, and hype trains.
TheLysts
