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An information cascade or informational cascade is a phenomenon described in behavioral economics and network theory in which a number of people make the same decision in a sequential fashion. It is similar to, but distinct from herd behavior. [1] [2] [3] An information cascade is generally accepted as a two-step process.
Stress and coping social support theory [20] [65] [117] [120] dominates social support research [123] and is designed to explain the buffering hypothesis described above. According to this theory, social support protects people from the bad health effects of stressful events (i.e., stress buffering) by influencing how people think about and ...
Information economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. [ 1 ] One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce."
Social comparison theory – suggests that humans gain information about themselves, and make inferences that are relevant to self-esteem, by comparison to relevant others. Social exchange theory – is an economic social theory that assumes human relationships are based on rational choice and cost-benefit analyses. If one partner's costs begin ...
There are three processes of attitude change as defined by Harvard psychologist Herbert Kelman in a 1958 paper published in the Journal of Conflict Resolution. [1] The purpose of defining these processes was to help determine the effects of social influence: for example, to separate public conformity (behavior) from private acceptance (personal belief).
Social information processing theory, also known as SIP, is a psychological and sociological theory originally developed by Salancik and Pfeffer in 1978. [1] This theory explores how individuals make decisions and form attitudes in a social context, often focusing on the workplace.
Nudge theory is a concept in behavioral economics, ... measures got a 79% support for ... based on the principles of behavioral economics and psychology, ...
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...