The Bandwagon Effect is a psychological phenomenon in which people do something primarily because other people are doing it, regardless of their own beliefs. This tendency of people to align their beliefs and behaviors with those of a group is also called herd mentality. The term "bandwagon effect" originates from politics but has wide implications commonly seen in consumer behavior and investment activities. This phenomenon can be seen during bull markets and the growth of asset bubbles when individuals buy stocks or invest money not because they believe that the stock or investment will appreciate in value, but because they see others buying it and want to ride the wave too.There are several reasons why people may succumb to the bandwagon effect even if they don't agree with what others are doing. One reason is that humans are social animals who often look to others for cues on how to behave. In many cases, we may not have time or resources to carefully examine an issue before making a decision, so we rely on what other people tell us instead. Additionally, research shows that humans tend to conform more when they're in groups than when they're alone – this is known as social conformity bias . People may also be afraid of being ostracized by their peers if they don't go along with what everyone else is doing.
