{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/herd-behavior",
 "identifier": "kaal:entity:herd-behavior",
 "name": "Herd behavior",
 "termCode": "herd-behavior",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/herd-behavior.md",
 "sha256": "1c6d55f38a76553a46c9d0b9aaa5de73e270b03bf3788ab77e74244d605e9642",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
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   "name": "claim_count",
   "value": 3
  },
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   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2019",
    "2024"
   ]
  },
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3396522-021",
   "identifier": "kaal:claim:3396522-021",
   "text": "Extreme illiquidity combined with the herd mentality of crypto investors systematically benefits speculators, because it lets apparent scarcity materialize out of nowhere precisely when investors are about to decide, prompting misinformed buy and sell decisions.",
   "abstract": "The very high illiquidity of the cryptocurrency market in combination with the herd mentality of crypto investors benefits speculators because it allows scarcity to appear out of nowhere including for investors who are about to make an investment decision.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522",
   "datePublished": "2019",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "holds in deeply illiquid markets where speculators control supply"
   ],
   "source_pdf_sha256": "ef5031b16aa53476ed618f0bdf92601cd4affb893692c701134bd9cba3ea8acf",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4900878-010",
   "identifier": "kaal:claim:4900878-010",
   "text": "Modeling entanglement explains collective phenomena such as herd behavior and market bubbles that classical economic theories struggle to account for, and it also illuminates how economic shocks propagate.",
   "abstract": "Incorporating entanglement into economic models can help explain the emergence of collective behaviors, such as herd behavior and market bubbles, which are difficult to account for using classical economic theories.",
   "citation": "Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878",
   "datePublished": "2024",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "75bf96d3b751b4ad0a6ca4a32591cf026094f113e3a372aa6c61790941b391f7",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4900880-015",
   "identifier": "kaal:claim:4900880-015",
   "text": "Building entanglement into economic models supplies an explanation for collective behaviors such as herd behavior and market bubbles, which classical economic theories struggle to account for.",
   "abstract": "Incorporating entanglement into economic models can help explain the emergence of collective behaviors, such as herd behavior and market bubbles, which are difficult to account for using classical economic theories.",
   "citation": "Wulf A. Kaal, Quantum Economy and the Future of Work (2024). SSRN: https://ssrn.com/abstract=4900880",
   "datePublished": "2024",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "64ea6e8b7cfb3d9a83801eba54f9b87182b842a963273ddab7f2d5305639db73",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'herd-behavior'. Derived node: a roster, not an adjudicated definition."
}