Massachusetts Senate candidate Elizabeth Warren called for Dimon's resignation from the New York Fed's board last week, and Sen. Bernie Sanders has used the uproar to promote the idea of overhauling the Federal Reserve.
Bandwagon Examples. Bandwagon is a type of logical fallacy-an argument based on reasoning that is unsound. Bandwagon argues that one must accept or reject an argument because of everyone else who accepts it or rejects it-similar to peer pressure. Examples of Bandwagon: 1. You believe that those who receive welfare should submit to a drug test, but your friends tell you that idea is crazy and they don't accept it.
Bandwagon effect. The bandwagon effect is a phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases the more that they have already been adopted by others. In other words, the bandwagon effect is characterized by the probability of individual adoption increasing with respect to the proportion who have already done so. As more people come to believe in something, others also hop on the bandwagon regardless of the underlying evidence. The tendency to follow the actions or beliefs of oth