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.
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.
Boris Maciejovsky, University of California Riverside, USA
David Budescu, Fordham University
NA - Advances in Consumer Research Volume 48 | 2020
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