EconPapers    
Economics at your fingertips  
 

Does consultation improve decision-making?

Alessia Isopi (alessia.isopi@manchester.ac.uk), Daniele Nosenzo and Chris Starmer

Theory and Decision, 2014, vol. 77, issue 3, 377-388

Abstract: This paper reports an experiment designed to test whether prior consultation within a group affects subsequent individual decision-making in tasks where demonstrability of correct solutions is low. In our experiment, subjects considered two paintings created by two different artists and were asked to guess which artist made each painting. We observed answers given by individuals under two treatments: In one, subjects were allowed the opportunity to consult with other participants before making their private decisions; in the other, there was no such opportunity. Our primary findings are that subjects in the first treatment evaluate the opportunity to consult positively, but they perform significantly worse and earn significantly less. Copyright The Author(s) 2014

Keywords: Consultation; Decision-making; Group decisions; Individual decisions; C91; C92; D80 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://hdl.handle.net/10.1007/s11238-014-9449-9 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Does consultation improve decision making? (2011) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:theord:v:77:y:2014:i:3:p:377-388

Ordering information: This journal article can be ordered from
http://www.springer. ... ry/journal/11238/PS2

DOI: 10.1007/s11238-014-9449-9

Access Statistics for this article

Theory and Decision is currently edited by Mohammed Abdellaoui

More articles in Theory and Decision from Springer
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).

 
Page updated 2025-03-30
Handle: RePEc:kap:theord:v:77:y:2014:i:3:p:377-388