Decision Making with Naive Advice

By Andrew Schotter. 2003

154 citations recorded by the source corpus.

Subfields: General Decision Sciences, Management Science and Operations Research, Safety Research

View Paper: https://www.semanticscholar.org/paper/f25043264cbd0d6fe76e871e0260997274dd29fb

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In General Decision Sciences

In Management Science and Operations Research

In Safety Research

Citations in the corpus

Cultural evolution in laboratory microsocieties including traditions of rule giving and rule following (2004, background): “The only other attempts to use laboratory microsocieties to study cultural evolution we know of were performed by Insko, Gilmore, Moehle, et al. (1982), Insko, Gilmore, Drenan, et al., (1983), Insko, Thibaut, et al. (1980), Schotter (2003), Zucker (1977), and Monestes (personal communication).”
Advice taking and decision-making: An integrative literature review, and implications for the organizational sciences (2006, background): “Moreover, judges are more likely to follow the advice when advisors make decisions for themselves in a manner consistent with their recommendations to the judge (Schotter, 2003).”
Individuals and Teams in UMTS-License Auctions (2007, background): “This seems a plausible conjecture that could be tested in the future by running experiments where individual decision-makers receive advice from others (see Schotter, 2003, on how advice changes individual behaviour in some simple bargaining games).”
Using advice from multiple sources to revise and improve judgments (2007, background): “Schotter's gametheoretical experiments, which involved naïve rather than expert advice, also suggest that participants behave in a more rational manner when they make decisions under the influence of advice (Schotter, 2003).”
The value of familiarity: Effects of knowledge and objective signals on willingness to pay for a public good (2014, background): “…additional information in the form of expert advice or objective information about a good or economic game can affect economic decision making (Schotter 2003, Eil and Rao 2011, Grossman and Owens 2012).8 To this end, there is a growing literature highlighting how economic agents alter their…”
Are Small Investors Naive About Incentives (2007, unknown): “They take recommendations at face value and trust analysts too much, in line with experimental results on advice-giving and the literature on investors’ reaction to firms’ accounting choices and security issuance decisions (Schotter, 2003; Daniel, Hirshleifer, and Teoh, 2002).”