2min chapter

The Joe Walker Podcast cover image

Rational Minds Part 4: The Blind Leading The Blind - David Hirshleifer

The Joe Walker Podcast

CHAPTER

The Difference Between Herding and Informational Cascades

Herding is where people or animals are behaving in a similar way and it's not just happening by chance. Information cascades are a special case of that where the reason for herding is informational. So you could have wildebeest clumping because maybe there are predators out there, so they're all trying to get away from the periphery and into the center.

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