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Leadership in Groups

Leadership in Groups

Hardcover

Investing & FinanceManagementGeneral Psychology

ISBN10: 1025082036
ISBN13: 9781025082035
Publisher: Hutson Street Press
Published: May 22 2025
Pages: 36
Weight: 0.51
Height: 0.25 Width: 6.14 Depth: 9.21
Language: English

This paper studies monetary policy decision making by committee, using an experimental methodology. In an earlier paper (Blinder and Morgan 2005), we found that groups not only outperformed individuals, but they also took no longer to reach decisions. We successfully replicate those results here. Next, we find little difference between the performances of fourperson and eight-person groups; the larger groups outperform the smaller groups by a very small (and often insignificant) margin. Third, and most surprisingly, we find no evidence of superior performance by groups that have designated leaders. Possible reasons for that strongly counterintuitive finding are discussed.

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