Explaining the Tulip Mania Period Through the Bandwagon Effect

Tulip mania is one of the best examples of how easily the popularity of choice can influence people's decisions. This period, which took place in the Netherlands between 1634-1637, turned into a “craze”. People did not stop buying tulip bulbs despite the high prices, and this caused the prices of tulip bulbs to soar. The main misconception of people during this period was that many people involved in this movement could not be wrong. The main reason for this idea is that tulip bulb prices rise day by day and it is easy to adopt a popular view. The bandwagon effect, in this context, explains that popular views attract more supporters because people want to gain acceptance and perhaps status in society. What happened during the Tulip Mania period is actually a similar situation. In this study, tried to explain how people acted during the tulip mania period due to the bandwagon effect through qualitative analysis. As a result of the study, various suggestions have been made on what can be done to minimize the problem of consumption frenzy and to avoid an effect such as herd psychology that may affect society in general.