Cognitive Bias in Economic Decision Making: The Influence of Herding Behaviour of Consumers on Business and Investment

Vidhu johnson

doi:10.36948/ijfmr.2025.v07i01.36787

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Cognitive Bias in Economic Decision Making: The Influence of Herding Behaviour of Consumers on Business and Investment

Author(s)	Vidhu johnson
Country	India
Abstract	Herding behaviour in economic decision-making refers to the tendency of individuals to follow the actions or decisions of a larger group, often disregarding their own independent analysis or judgment. Herd behaviour is a double-edged sword. While it can generate quick wins for businesses, it requires careful planning and consideration to avoid the risks associated with over-dependence on trends and external influences.
Keywords	cognitive biases, economic decision making, herding behaviour, consumer behaviour, influence on business
Field	Sociology > Economics
Published In	Volume 7, Issue 1, January-February 2025
Published On	2025-02-12
DOI	https://doi.org/10.36948/ijfmr.2025.v07i01.36787
Short DOI	https://doi.org/g84xv6

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Cognitive Bias in Economic Decision Making: The Influence of Herding Behaviour of Consumers on Business and Investment

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