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• W2323581263 abstract "Social psychologists have long been interested in the differences between decisions arrived at through some group process and those which are the product of an individual's efforts. In recent years, particular attention has been given to group decision making and risk taking. The purpose of this article is to provide a general summary of risk taking in groups, critically evaluate the prevalent hypotheses, and to discuss its implications for group decision making in managerial settings. It is often assumed that group arrangements for solving problems and making decisions suppress or dampen individual tendencies toward boldness, innovation, and daring. One set of circumstances for which this assumption no longer appears to hold is in decisions or choices that embody a clear dimension of risk. By now, a host of studies, initiated by Stoner in 1961 and given great impetus by Wallach and Kogan, have demonstrated that, on the average, individuals advocate greater degrees of risk taking following participation in a group than they had previously advocated in private (Cartwright, 1971; Clark, 1971; Dion et. al, 1970; Pruitt, 1971; Vinokur, 1971). The usual procedure involves asking subjects in experiments to serve as advisers to hypothetical persons who are described on paper as being confronted by a choice dilemma (Stoner, 1961; Kogan & Wallach, 1964); the hypothetical persons must choose between an alternative that is less attractive but safe and a situation that is more attractive but less likely to succeed. An example is as follows: Mr. A, an electrical engineer, who is married and has one child, has been working for a large electronics corporation since graduating from college five years ago. He is assured of a lifetime job with a modest, though adequate, salary, and liberal pension benefits upon retirement. On the other hand, it is very unlikely that his salary will increase much before he retires. While attending a convention, Mr. A is offered a job with a small, newly founded company which has a highly uncertain future. The new job would pay more to start and would offer the possibility of a share in the ownership if the company survived the competition of the larger firms. Russell D. Clark III, Ph.D., is Assistant Professor in Florida State University. This paper was presented at the 1973 Annual Meeting of ARIA." @default.
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• W2323581263 date "1974-03-01" @default.
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• W2323581263 title "Risk Taking in Groups: A Social Psychological Analysis" @default.
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• W2323581263 doi "https://doi.org/10.2307/252093" @default.
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