We knew it all along: hindsight bias in groups

Article Abstract:

The existence of hindsight bias in groups and individuals is studied. Results show that hindsight bias is more evident in groups than in individuals. Groups had better recall of their original predictions, since they spend more time in decision making. However, this recall ability disappears when the time taken to make initial predictions is made constant. Outcome information is also influenced hindsight bias but has no impact on hit rates.

Prejudices, Prejudice, Decision-making, Group, Group decision making

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Take The First: option-generation and resulting choices

Article Abstract:

Experimental decision-making research uses a task where participants are presented with alternatives from which they must choose. The proposed model and the resulting heuristic, "Take The First" utilizes the principles of associative memory networks in conjunction with the rules of fast and frugal heuristics.

United States, Science & research, Decision-making, Multiple criteria decision making, Decision making

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