This theory (is it a theory?) sounds good, but as someone else here implied, those who copy aren't employing mimicry, but are actually trying to compete with th

This theory (is it a theory?) sounds good, but as someone else here implied, those who copy aren't employing mimicry, but are actually trying to compete with those they copy. I would say that the bubbles are closer to biological arms races than biological mimicry. The irrational exuberance is met by companies that are competing to be the most successful in exploiting that exuberance. Hence Enron's success at being one of the best performers on the market until its bust. I'm sure this stuff has been explained before, but it doesn't seem to be part of any popular economic theory?