TY  - RPRT
        AU  - Casari, Marco
AU  - Zhang, Jingjing
AU  - Jackson, Christine
        TI  - Same Process, Different Outcomes: Group Performance in an Acquiring a Company Experiment
        PY  - 2015/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 9614
        UR  - https://www.iza.org/publications/dp9614
        AB  - 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.
        KW  - winner's curse
KW  - group decision making
KW  - communication
KW  - risky shift
KW  - herd behavior
        ER  -