We report results of an experiment in which participants provided certainty equivalents for 15 risky or vague (with imprecise probabilities) two-outcome gambles. Participants made their decisions in three different settings: a) individually without prior social interactions, b) individually after discussing decisions with other participants and c) in groups of three. We also manipulated the deg...

Understanding the processes by which task groups function is a major concern of social psychologists who study small groups. Equally important to the applied group researcher is the understanding of how group processes are altered by the external environment. Research suggests that organizations respond to stress with a centralization of authority so that decision making becomes concentrated in...

Theory and research on small group performance and decision making is reviewed. Recent trends in group performance research have found that process gains as well as losses are possible, and both are frequently explained by situational and procedural contexts that differentially affect motivation and resource coordination. Research has continued on classic topics (e.g., brainstorming, group goal...

abstract this author introduces the concept of stepwise strategy approach (ssa) for dealing with a number of problems arises in the current age of technology. this new idea is combined with the knowledge of grey theory for adding flexibility to decision making process. grey theory is useful for grasping the ambiguity exists in the utilized information and the fuzziness appears in the human judg...

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 both when participants generated responses for an entire sequence of choices without outcome feedba...