%0 Report
        %A Casari, Marco
%A Zhang, Jingjing
%A Jackson, Christine
        %T Same Process, Different Outcomes: Group Performance in an Acquiring a Company Experiment
        %D 2015
        %8 2015 Dec
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 9614
        %U https://www.iza.org/publications/dp9614
        %X 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.
        %K winner's curse
%K group decision making
%K communication
%K risky shift
%K herd behavior