MGMD02H3 Study Guide - Final Guide: Group Dynamics, Polydipsia, Dictator Game

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Group decision making - none of us is as smart as all of us . Baseball prediction > most accurate when it was rated by a lot of people. Estimates about unknown quantities are often unreliable, and susceptible to errors. Averaging can help cancel out those errors, provided that: errors are random (i. e. , not systematic) it won"t be random if you ask group of people who love blue jays, there is diversity and independence of opinion. The more people you have, it cancels out all the noises or inaccuracy you have. Group of ppl were asked to generate as many ideas as possible to solve a problem: half of the groups worked together to generate ideas. Opinions are often not independent: much of the wisdom of aggregates comes from combining diverse perspectives, but group dynamics often inhibit the voicing and combination of diverse perspectives, ex. Hidden pro les - deciding which candidates was best suited for the president.