The Contingent Wisdom of Dyads: When Discussion Enhances vs. Undermines the Accuracy of Collaborative Judgments

Julia A. Minson (), Jennifer S. Mueller () and Richard P. Larrick ()
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Julia A. Minson: Harvard University, Cambridge, Massachusetts 02138
Jennifer S. Mueller: University of San Diego, San Diego, California 92110
Richard P. Larrick: Duke University, Durham, North Carolina 27708

Management Science, 2018, vol. 64, issue 9, 4177-4192

Abstract: We evaluate the effect of discussion on the accuracy of collaborative judgments. In contrast to prior research, we show that discussion can either aid or impede accuracy relative to the averaging of collaborators’ independent judgments, as a systematic function of task type and interaction process. For estimation tasks with a wide range of potential estimates, discussion aided accuracy by helping participants prevent and eliminate egregious errors. For estimation tasks with a naturally bounded range, discussion following independent estimates performed on par with averaging. Importantly, if participants did not first make independent estimates, discussion greatly harmed accuracy by limiting the range of considered estimates, independent of task type. Our research shows that discussion can be a powerful tool for error reduction, but only when appropriately structured: Decision makers should form independent judgments to consider a wide range of possible answers, and then use discussion to eliminate extremely large errors.

Keywords: decision making; groups and teams; wisdom of crowds; forecasting (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:64:y:2018:i:9:p:4177-4192

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