Copying Behaviour - Stay at Home Millennials

Standard textbook economic analysis tends to assume that the choices people make in the daily lives are not particularly strongly influenced by the preferences and decisions of others. But we know from studies in behavioural economics that copying and herd behaviour is more frequent in the real world. Peer pressure means that more people are living with their parents because their friends are happy to do the same. That is the central finding of research by Effrosyni Adamopoulou and Ezgi Kaya presented at the 2016 Royal Economic Society's annual conference