According to Smelser's value-added theory, what kind of collective behavior was the American stock market crash in 1929?

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Smelser's value-added theory suggests that panic is a type of collective behavior that occurs when people are suddenly presented with a situation that threatens their basic needs or values. The American stock market crash in 1929 was a situation that presented a threat to people's economic well-being, leading to panic behavior.

According to Smelser's Value-Added Theory, What Kind of Collective Behavior