Arbeitspapier
Same Process, Different Outcomes: Group Performance in an Acquiring a Company Experiment
It is still an open question when groups perform better than individuals in intellective tasks. We report that in an Acquiring a Company game, what prevailed when there was disagreement among group members was the median proposal and not the best proposal. This aggregation rule explains why groups underperformed with respect to a "truth wins" benchmark and why they performed better than individuals deciding in isolation in a simple version of the task but worse in the more difficult version. Implications are drawn on when to employ groups rather than individuals in decision making.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 9614
- Classification
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Design of Experiments: Laboratory, Group Behavior
Criteria for Decision-Making under Risk and Uncertainty
- Subject
-
winner's curse
group decision making
communication
risky shift
herd behavior
- Event
-
Geistige Schöpfung
- (who)
-
Casari, Marco
Zhang, Jingjing
Jackson, Christine
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2015
- Handle
- Last update
- 10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Casari, Marco
- Zhang, Jingjing
- Jackson, Christine
- Institute for the Study of Labor (IZA)
Time of origin
- 2015
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