Human behaviour is profoundly shaped by the unwritten rules and expectations of the social groups to which individuals belong. Normative influences arise when people adjust their actions to align with ...

In the last article, we evaluated why people follow the crowd—and when that may or may not be a good strategy for personal decision-making. In that evaluation, we discussed how individuals often look ...

Normative economics is a perspective of "what ought to be" rather than what actually is, dealing heavily in value judgments ...