Research Finding :
Teams Are More Comfortable with Ambiguity than Individuals Are
Experiments :
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.
Possible Reason :
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 .
Implications in Business :
The findings suggest that teams may be better than individuals at handling tasks involving imprecise probabilities, such as long-term planning.
Research Conducted by : a team led by Steffen Keck of Insead.
SOURCE: Group decisions under ambiguity: Convergence to neutrality
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