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Groupthink: Collective Delusions in Organizations and Markets

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NBER2009-03-01 更新2025-01-04 收录
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I develop a model of (individually rational) collective reality denial in groups, organizations and markets. Whether participants' tendencies toward wishful thinking reinforce or dampen each other is shown to hinge on a simple and novel mechanism. When an agent can expect to benefit from other's

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2009-03-01
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