In Groups (Vs. Markets) We Trust: Relying on Groups Or Information Markets to Aggregate Knowledge

Many organizations are replacing groups (e.g., traditional committees) with information markets to aggregate knowledge. However, we show that groups outperform (vs. underperform) markets when conflicts-of-interest are absent (vs. present). Novice forecasters don’t anticipate these results and generally trust groups more than markets, but experience with information markets reverses this tendency.



Citation:

Boris Maciejovsky and David Budescu (2020) ,"In Groups (Vs. Markets) We Trust: Relying on Groups Or Information Markets to Aggregate Knowledge", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 842-846.

Authors

Boris Maciejovsky, University of California Riverside, USA
David Budescu, Fordham University



Volume

NA - Advances in Consumer Research Volume 48 | 2020



Share Proceeding

Featured papers

See More

Featured

A Journey with no Return into the Animal Kingdom: The Role of Tattooing in the Construction of the Collective Identity of the Vegan and Vegetarian Movement

Renata Andreoni Barboza, IBMEC-Instituto Brasileiro de Mercado de Capitais
Tania Modesto Veludo-de-Oliveira, Escola de Administração de Empresas de São Paulo da Fundação Getulio Vargas (FGV EAESP)

Read More

Featured

Can’t Take the Heat? Randomized Field Experiments in Household Electricity Consumption

Praveen Kumar Kopalle, Dartmouth College, USA

Read More

Featured

G5. The Phenomenon of Brand Noise and Related Consumer Preferences in the Luxury Industry

Daria Erkhova, University of Bern
Elena Ehrensperger, University of Bern
Harley Krohmer, University of Bern
Wayne Hoyer, University of Texas at Austin, USA
John Zhang, University of Pennsylvania, USA

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.