The kiasu culture and herd behaviour in Singapore
The kiasu culture and its implications on Singapore have been topics of contention for many years. Social observers have noted that the kiasu culture has had a significant effect on herding behaviour among individuals in Singapore. In this paper, we develop a model under the framework suggested b...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2017
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/70229 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The kiasu culture and its implications on Singapore have been topics of contention for many years.
Social observers have noted that the kiasu culture has had a significant effect on herding behaviour
among individuals in Singapore. In this paper, we develop a model under the framework suggested
by Bikhchandani, Hirshleifer and Welsh (1991) to theoretically investigate this effect. Our findings
suggest that all players who are risk-averse in their relative wealth exhibit an extremely strong
tendency to follow the actions of players before them and attain the same relative wealth positions as
before. Our research has potential extensions in the field of socio-economics, particularly in public
policy development and decision-making within groups of individuals marked by similar competitive
nature. |
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