PRESTIGE BIAS

ROCKING OUR PRIORS

Imagine: Elon Musk's tweet causes a cryptocurrency frenzy. Kim Kardashian’s outfit becomes an overnight fashion sensation. Daron Acemoglu and colleagues’ paper on settler mortality reshapes economic thinking. The Pope’s words influence millions globally. What links these diverse events? They’re all powerful manifestations of prestige bias. Psychologically, we seek guidance from those who’ve achieved success, looking to emulate their paths to prosperity and social approval. This creates a dynamic where the accomplished influence others, often reinforcing their own status in the process. From NBER’s Summer Institute to the glitz of Hollywood, prestige bias permeates every sphere of human endeavour. However, its impact is perhaps most profound and far-reaching in the realm of religion. Join me on a journey to the heart of the Muslim world, where we’ll explore the influence of Cairo’s Al-Azhar - a beacon of Islamic scholarship whose teachings reverberate globally. Through this lens, we’ll uncover how prestige bias shapes not just individual choices, but entire cultural paradigms.