Project Hütter & Fiedler
Decision quality as a function of the amount of information: Small sample versus large sample advantages in individuals and groups
This project investigates advantages of large and small samples of information on judgment and decision-making. There are numerous empirical phenomena that highlight the power and simple beauty of intuitive decisions based on minimal samples of information. However, those can be contrasted against equally prominent aggregation effects that highlight information gains through increasing sample size. The goal of the project is to investigate the boundary conditions for small-sample and large sample advantages on decision quality. Specifically, we intend to examine decision quality as a function of three types of information: In addition to the number of observations n, and the number of cues or attribute dimensions k, social decisions in groups and democratic settings also vary in the number j of persons (group members, consultants, advisers) who contribute knowledge and observations. From that framework we derive several hypotheses to be tested reaching from the individual influences of the three information types on judgment and decision-making, including their mediators and moderators, to their interactive effects.
Staff:
Prof. Dr. Mandy Hütter
Social and Organizational Psychology, University of Tübingen
Tel.: +49 (0) 7071-29-72978
Prof. Dr. Klaus Fiedler
Department of social psychology, University of Heidelberg
Tel.: +49 (0) 6221-54-7270
Fabian Ache, M.Sc.
Social and Organizational Psychology, University of Tübingen
Tel.: +49 (0) 7071 29-78336
