Social Norms

Our day-to-day behaviour in markets is influenced by prevailing social norms or social customs.

Examples include: The changing social stigma of drink-driving and speeding on the roads, observing white lines in car parks and queuing behaviour in shops. Social norms become accepted by the majority of a given community of people.

Social norms are the unwritten rules of behavior that are considered acceptable within a group or society. These norms can be specific to a particular culture or community, and they can vary widely across different groups. Social norms are often enforced through social sanctions, such as praise or criticism, and they can shape the way that individuals behave and interact with others.

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