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Book synopsis

This paper studies monetary policy decision making by committee, using an experimental methodology. In an earlier paper (Blinder and Morgan 2005), we found that groups not only outperformed individuals, but they also took no longer to reach decisions. We successfully replicate those results here. Next, we find little difference between the performances of fourperson and eight-person groups; the larger groups outperform the smaller groups by a very small (and often insignificant) margin. Third, and most surprisingly, we find no evidence of superior performance by groups that have designated leaders. Possible reasons for that strongly counterintuitive finding are discussed.

Book details

Book category Books in English Society & social sciences Politics & government

• Full title: Leadership in Groups
• Subtitle: A Monetary Policy Experiment
• Author: Morgan, John (University of Wales, Aberystwyth Institute of Education, University of London, UK)
• Language: English
• Binding: Paperback
• Number of pages: 38
• EAN: 9781249560104
• ISBN: 9781249560104
• ID: 08140089
• Publisher: Bibliogov
• Weight: 86 g
• Dimensions: 246 × 189 × 2 mm
• Date of publishing: 01. September 2012

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