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People most often like to have the latest fashions, and wear what is in style. They look to people whom they admire, or see what their favorite celebrities, or even their friends are wearing. The individual's desire (demand) to also own and wear the latest fashions will be increased, because they have observed those fashions as what is popular. This is a very simple way to explain the bandwagon effect, and it is an example that most people have witnessed or experienced themselves. The graph (figure 1) displaying the bandwagon effect on the demand curves of several individuals and the market demand, shows that the market demand curve is very elastic...
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