From the HBR (Harvard Business Review) Blog Network/Daily Stat:

In a series of experiments on choices between sure amounts of money and various kinds of gambles, researchers found that three-person groups are both less averse to ambiguity and less inclined to seek it — in other words, are more neutral about ambiguity — than are individuals. A possible reason is that individuals’ extreme attitudes toward ambiguity, either negative or positive, tend to be softened by persuasive arguments from other group members, says a team led by Steffen Keck of Insead. The findings suggest that teams may be better than individuals at handling tasks involving imprecise probabilities, such as long-term planning.

— by Andrew O’Connell

SOURCE:  Group decisions under ambiguity: Convergence to neutrality

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