Abstract
This experiment is a replication of Wallach, Kogan and Bem (1962) study on Group influence on individual risk taking. The aim for this experiment is to investigate the effects of shift in risk across the pre-discussion, group-discussion and post-discussion assessment on individual decisions and group consensus. There were 154 (both sexes) undergraduates students from the University of Sheffield used in this study. The results were based on their opinions on the pre, group and post-discussion assessment and data were collected to examine whether individuals risk more as a result of group-discussion than when they were alone. Findings suggested that group-discussion does made an influence on decision-making on individual’s initial decision.
Many of us spend a significant portion of our lives making decisions individually or in groups. We make decisions about all sorts of risks differently when we are within a group or when we are alone. Wallach, Kogan and Bern (1962) found an averaging effect between individual decisions and the group consensus. It was believed that groups might seek to reach an agreement with group members that made group members move from their initial decisions. In 1961, Stoner identified a phenomenon that later became known as the “risky shift”. The phenomenon explains that group discussion produced group decisions that chose riskier decision than the average of the individual group member prior decisions. However, the participants that were used in his study were all male graduate students of industrial management and this might cause a bias results. It was believed that
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