No decision-maker is an Island: integrating expert advice with information acquisition
Article first published online: 16 JAN 2006
Copyright © 2006 John Wiley & Sons, Ltd.
Journal of Behavioral Decision Making
Volume 19, Issue 1, pages 43–60, January 2006
How to Cite
Schrah, G. E., Dalal, R. S. and Sniezek, J. A. (2006), No decision-maker is an Island: integrating expert advice with information acquisition. J. Behav. Decis. Making, 19: 43–60. doi: 10.1002/bdm.514
- Issue published online: 16 JAN 2006
- Article first published online: 16 JAN 2006
- judge-advisor system;
- advice utilization;
- information acquisition;
- information search;
The present research examined the social context of information acquisition. The main purpose was to examine how decision-makers' information acquisition processes changed when they were provided access to expert advice. Results indicated that all decision-makers opted to acquire advice; however, they typically did so only after completing over 75% of their own information search. Decision-makers agreed more with the advice as task complexity increased, but, in general, searched information in two stages—i.e., a pre-advice “hypothesis generation” stage and a post-advice “hypothesis testing” stage. To behave in an adaptive manner, decision-makers could have used expert advice either to increase their decision accuracy or to reduce their effort expenditure (or both); they chose the former. Implications and further extensions are discussed. Copyright © 2006 John Wiley & Sons, Ltd.