As people respond to incentives, they will change their behaviors if they perceive that costs or benefits change.
This principle seems to find wide application in our daily lives.
When college graduates learn that receiving a master degree will give them an upper hand in the job market, many decide to take part in post-graduate entrance examinations.
In China, it is regarded as following suit.
Though we admire those who pride themselves on sticking to their ideals and principles, odds may not be against those who follow suit.
Generally speaking, there are both advantages and disadvantages of following suit.
Firstly, following suit is indicative of the fact that followers have no indispensable beliefs or fixed principles and hence they are flexible in the vicissitudes of lives.
When the social context changes and opportunities arise, those followers are the first to respond and make decisions.
Take the English training service for example.
In early 1990s, increasing number of college graduates decided to study overseas and hence English training service was in large demand.
Given that forerunners had make a fortune by providing training programs to those graduates, many businessmen just followed suit and established several training schools.
Undoubtedly, those who followed suit when the market did not reach saturation did make money.
Secondly, it is noteworthy that following suit can avoid making mistakes.
For those forerunners, there is no previous information at their hand, and therefore, it will take a long time to learn and improve by trial and error.
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