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Answer: Demand for a security. In Popularity: A Bridge between Classical and Behavioral Finance by Roger G. Ibbotson, Thomas M. Idzorek, CFA, Paul D. Kaplan, CFA, and James X. Xiong, CFA, the authors explain that how much anything is liked, recognized, or desired determines its popularity. Thus, popularity drives demand. The authors apply this concept to assets and securities to explain the premiums and so-called anomalies in security markets, especially the stock market.