Herding Bias

So much decision-making is the result of what is known as Herding Bias. We see it in fashion, with investing, in the animal world - think migrations and schools of fish as examples, and in everyday human life. There are two traps to be aware of when it comes to emergencies and preparedness - where the consequences of a poor decision can be particularly high.

The first trap, and most obvious, is to follow the herd when the herd is making the wrong choice. An example could be to decline to evacuate in an emergency because most people in the neighborhood decided to stay.

The second trap, and more subtle, is to follow the herd that thinks like you do when there is more than one herd; it's easy, it's instinctive, and it feels right. The alternative is to put in the effort and make a slower, more deliberate and more logical decision, also known as System 2 decision making.