Abstract

http://ssrn.com/abstract=604641
 
 

Citations (21)



 
 

Footnotes (311)



 


 



Group Judgments: Deliberation, Statistical Means, and Information Markets


Cass R. Sunstein


Harvard Law School


New York University Law Review, Forthcoming

Abstract:     
How can groups elicit and aggregate the information held by their individual members? The most obvious answer involves deliberation. For two reasons, however, deliberating groups often fail to make good decisions. First, the statements and acts of some group members convey relevant information, and that information often leads other people not to disclose what they know. Second, social pressures, imposed by some group members, often lead other group members to silence themselves because of fear of disapproval and associated harms. The unfortunate results include the propagation of errors; hidden profiles; cascade effects; and group polarization. A variety of steps should be taken to ensure that deliberating groups obtain the information held by their members. Because of their ability to aggregate privately held information, information markets substantial advantages over group deliberation. These points bear on discussion of normative issues, in which deliberation might also fail to improve group thinking.

Number of Pages in PDF File: 81

Keywords: Cascades, group polarization, statistical groups, deliberation, information markets, prediciton markets

Accepted Paper Series





Download This Paper

Date posted: October 13, 2004  

Suggested Citation

Sunstein, Cass R., Group Judgments: Deliberation, Statistical Means, and Information Markets. New York University Law Review, Forthcoming. Available at SSRN: http://ssrn.com/abstract=604641

Contact Information

Cass R. Sunstein (Contact Author)
Harvard Law School ( email )
1575 Massachusetts Ave
Areeda Hall 225
Cambridge, MA 02138
United States
617-496-2291 (Phone)
Feedback to SSRN


Paper statistics
Abstract Views: 2,796
Downloads: 398
Download Rank: 13,311
Citations:  21
Footnotes:  311

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo8 in 0.313 seconds