The article below is translated and reprinted with permission by Nyt Fokus Magazine and author Esther Michelsen Kjeldahl, philosophy student at the London School of Economics and Political Science, and at the time of writing affiliated with the Center for Information and Bubble Studies , University of Copenhagen. When I talked to Esther about translating the article I asked her to explain what the term “to study bubbles” entails exactly: To study bubbles in part entails to use theories of social psychology to explain why individually rational members of a social group sometimes act irrationally while in the group. OK, and in this regard it’s important we understand what “normal” behavior is in a social group: The concept of social norms is used in social psychology to denote common practices or common beliefs. That is, what is “normal” to do or think in a social group. Social norms are of great importance to our behavior, because most of us do not want to deviate too much from the communities we are a part of. However, our perception of what our friends and acquaintances do and think can be misguided. Great, and with that out of the way, I’ll let […]

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