Group decision-making: Implications for investment committees

Sponsored By Vanguard

Topics:

Budgeting & Planning > Business Intelligence

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Abstract:

This paper presents existing research on the psychology of group decision-making and discusses how the research may be applied to investment committees to help them improve the quality of their decisions. We first discuss research on the nature of investment committee decisions and their effectiveness. We then examine psychological research on group decision-making theories and biases, focusing on group think, group polarization, overconfidence, and group composition. We conclude with a look at implications for investment committees and actions they can take to mitigate bias.

DETAILS

Sponsored by: Vanguard

Released: April 28, 2009

Length: 16 pages

Format: PDF (230 kb)

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