More heads choose better than one: Group decision making can eliminate probability matching

• Published in: Psychonomic bulletin & review Vol. 23; no. 3; pp. 907 - 914
• Main Authors: Schulze, Christin, Newell, Ben R.
• Format: Journal Article
• Language: English
• Published: New York Springer US 01.06.2016; Springer Nature B.V
• Subjects: Adolescent; Adult; Behavioral Science and Psychology; Bias; Brief Report; Choice Behavior; Cognitive Psychology; Cooperative Behavior; Decision Making; Expected values; Experiments; Feedback; Female; Group Processes; Humans; Male; Probability; Psychological Theory; Psychology; Young Adult; Group decision making; Probability matching; Rational choice theory

Probability matching is a robust and common failure to adhere to normative predictions in sequential decision making. We show that this choice anomaly is nearly eradicated by gathering individual decision makers into small groups and asking the groups to decide. The group choice advantage emerged bo...