Aug 8, 2016

In Press: The Wisdom of Crowds in Matters of Taste

Shoham Choshen-Hillel, Meir Barneron, Ilan Yaniv and I have a new ARTICLE IN PRESS at Management Science. Here's the short abstract:

Decision makers can often enhance the accuracy of their beliefs about factual matters by combining others’ opinions. This article asks whether and when decision makers could similarly use others’ opinions to improve their judgments in matters of taste. In a theoretical analysis and two laboratory studies, we find that under specific conditions, decision-makers can make more accurate estimates of their own future preferences over stimuli or events by averaging others’ judgments regarding their respective preferences. We identify boundary conditions for our results, and relate them to accounts of the wisdom of crowds in estimating objective facts.