08:30 - 10:00
Mon-A7-Talk I-
Mon-Talk I-
Room: A7
Chair/s:
Maren Mayer
When making decisions, individuals often receive advice from others and incorporate this advice into their own judgments and decisions-under certain conditions leading to increases in decision quality and confidence. Beyond the typical paradigm examining advice-based decisions, several research avenues emerged in recent years that rely on advice taking and extend the typical paradigm to various different tasks and contexts. In this symposium, we thus introduce several novel directions for advice taking and related research. The first contribution provides an overview of typical paradigms and findings of empirical studies on advice-based decisions conducted over the last 15 years in behavioral and organizational research. The second contribution describes a newly developed (largely) culture-fair estimation task that solely requires secondary school level as a basis for conducting between-culture comparisons of advice taking in Chinese and German students. The third talk will present an application of the advice taking paradigm to investigate social influence in moral judgments at the example of the asymmetric moral conformity effect. The fourth contribution addresses sequential collaboration, a process relying on consecutively improving contributions made by others in which previous contributions can be viewed as advice for later contributors. Some of the previous findings will be reassessed to complement the presentation of a novel statistical modeling approach for process-consistent analysis of judgment formation in part five. The final contribution addresses how people update their beliefs about the validity of effects when being confronted with various scientific evidence, which can be viewed as a form of advice.
Reassessing selected wisdom of crowds findings by process-consistent statistical modeling
Mon-A7-Talk I-05
Presented by: Tobias R. Rebholz
Tobias R. Rebholz, Marco Biella, Mandy Hütter
Eberhard Karls University of Tübingen
New information technologies and social networks make a wide variety of opinions and advice easily accessible across different contexts. Therefore, assessing how much people are affected by informational influences is gaining importance in the social sciences. Traditionally, ratio-of-differences-based indices specify how strongly people move their judgment in the direction of advice compared to judgments made before receiving external information. The advantages of deterministic weighting indices are their intuitive interpretability and ease of calculation. Intermixing endogenous and exogenous components, however, is costly because it can lead to measurement problems and limits research to an overly restrictive set of questions and hypotheses. As a solution, we propose process-consistent mixed-effects regression for advice taking and related paradigms such as anchoring. Mixed-effects regression coefficients of various exogenous sources of information also measure individual weighting but are based on a conceptually consistent representation of the endogenous judgment process. Additionally, this statistically more adequate multilevel modeling approach enables the estimation of individual weights for nonlinear utilization strategies, sequentially sampled information, and multidimensional belief updating. The practical relevance of the proposed modeling framework becomes manifest in multiple reanalyses of existing empirical findings such as the functional form of the relationship between advice weighting and distance, or the quantification of informational influences without independent initial judgments in sequential collaboration chains. By process-consistent modeling of information sampling and utilization, mixed-effects regression weights (of advice) have the potential to improve research practices and can be applied to develop new substantive areas.
Keywords: weight of advice, advice taking, belief updating, information sampling, judge-advisor system, wisdom of crowds, multilevel modeling