Our Collective Delusions

5 March 2009 at 12:07 pm 6 comments

| Dick Langlois |

I just ran across a new NBER working paper by Roland Benabou called “Groupthink: Collective Delusions in Organizations and Markets.” Looks like an interesting paper. But why does he pick on this blog? I believe we here at O&M are far more resistant than most to groupthink. And I’m sure you all share this view.

Entry filed under: - Langlois -, Myths and Realities, Papers.

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6 Comments Add your own

  • 1. david's avatar david  |  5 March 2009 at 2:18 pm

    I haven’t read that paper, but I am inclined to agree wholeheartedly

  • 2. Rafe Champion's avatar Rafe Champion  |  5 March 2009 at 4:20 pm

    Me too!
    What does everyone think about the way this relates to Roger Koppl’s work on herding in markets?

  • 3. Marcus Linder's avatar Marcus Linder  |  6 March 2009 at 1:23 am

    Absolutely!

  • 4. Lasse's avatar Lasse  |  6 March 2009 at 5:09 am

    The big question is how can we sanction those who do think that there is groupthink going on at O&M, so that they leave, and only “no groupthink here” thinkers remain.

  • 5. Peter G. Klein's avatar Peter Klein  |  6 March 2009 at 10:46 am

    Note that SSRN has also named a working-paper series in our honor:

    http://www.ssrn.com/update/ern/ern_o&m.html

    Check out the losers on the Advisory Board!

  • 6. Joseph Logan's avatar josephlogan  |  6 March 2009 at 11:55 am

    Hadn’t occurred to me that there might be any other possibility.

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