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Pluralistic ignorance
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=== Tulip mania of 1634 === Another example of pluralistic ignorance is the [[tulip mania]] of 1634. It is a great example of how investors can be swept up in a financial frenzy due to collective illusion. The Dutch elite decided that having one's own unique collection of the spring flowering bulbs was an absolute necessity. So, despite the flower's lack of any intrinsic value, the prices began to rise.<ref>{{cite book |last1=Media |first1=Everest |title=Summary of Todd Rose's Collective Illusions |date=19 May 2022 |publisher=Everest Media LLC |isbn=979-8-8225-1713-4 |url=https://books.google.com/books?id=SZt6EAAAQBAJ&q=collective+illusions |language=en}}</ref>
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