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Groupthink is sometimes stated to occur (more broadly) within natural groups within the community, for example to explain the lifelong different mindsets of those with differing political views (such as "conservatism" and "liberalism" in the U.S. political context [7] or the purported benefits of team work vs. work conducted in solitude). [8]
The social identity approach suggests a more general approach to group decision-making than the popular groupthink model, which is a narrow look at situations where group and other decision-making is flawed. Social identity analysis suggests that the changes which occur during collective decision-making are part of rational psychological ...
The bandwagon effect is a psychological phenomenon where people adopt certain behaviors, styles, or attitudes simply because others are doing so. [1] More specifically, it is a cognitive bias by which public opinion or behaviours can alter due to particular actions and beliefs rallying amongst the public. [2]
The Fed has a reputation for near-unanimous decisions on everything. But recent regulatory changes show that there is a diversity of opinion coming from one outspoken Fed governor.
“All things are in flux.” — HeraclitusThe adage “nothing last forever” is an understatement. Far more accurate is something like “nothing lasts until next week.” Saint-to-Sinner ...
Robert Shiller won the Nobel Prize in economics last year for his research on spotting market bubbles. He's also a pioneer of behavioral finance, developing brilliant explanations for how ...
In groupthink theory, a mindguard is a member of a group who serves as an informational filter, providing limited information to the group and, consciously or subconsciously, utilizing a variety of strategies to control dissent and to direct the decision-making process toward a specific, limited range of possibilities. [1]
Sally Fuller and Ramon Aldag argue that group decision-making models have been operating under too narrow of a focus due to the overemphasis of the groupthink phenomenon. [2] [3] [4] In addition, according to them, group decision-making has often been framed in relative isolation, ignoring context and real-world circumstances, which is a likely consequence of testing group decision-making in ...