Leadership in groups
a monetary policy experiment
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Author
Contributions
- Morgan, John. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2007 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
9,000 words, Guess
Page Count
36 pages
Identifiers
- Library of Congress Control Number2007616520
- OCLC Control Number173691435
- Open LibraryOL17635414M
Classifications
- LCCHB1
Description
In an earlier paper (Blinder and Morgan, 2005), we created an experimental apparatus in which Princeton University students acted as ersatz central bankers, making monetary policy decisions both as individuals and in groups. In this study, we manipulate the size and leadership structure of monetary policy decisionmaking. We find no evidence of superior performance by groups that have designated leaders. Groups without such leaders do as well as or better than groups with well-defined leaders. Furthermore, we find rather little difference between the performance of four-person and eight-person groups; the larger groups outperform the smaller groups by a very small margin. Finally, we successfully replicate our Princeton results, at least qualitatively: Groups perform better than individuals, and they do not require more "time" to do so.
Subjects
Topics
Series Statement
- NBER working paper series -- no. 13391.
- Working paper series (National Bureau of Economic Research) -- working paper no. 13391.
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