# Herd behavior

`kaal:entity:herd-behavior`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `herd-behavior`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 3 works, 2019 to 2024.

**2019**

- [3396522-021](https://wulfkaal.github.io/claims/3396522-021) [mechanism/argued] *(failure mode)* -- 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.
  > 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.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

**2024**

- [4900878-010](https://wulfkaal.github.io/claims/4900878-010) [mechanism/argued] -- 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.
  > 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.
  Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878
- [4900880-015](https://wulfkaal.github.io/claims/4900880-015) [mechanism/argued] -- 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.
  > 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.
  Wulf A. Kaal, Quantum Economy and the Future of Work (2024). SSRN: https://ssrn.com/abstract=4900880

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/herd-behavior.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.