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How effectively do people learn from a variety of different opinions?

Published online by Cambridge University Press:  14 March 2025

Andrew Healy
Andrew Healy*
Affiliation:
Department of Economics, Loyola Marymount University, 1 LMU Drive, University Hall 4229, Los Angeles, CA 90045, USA
*
e-mail: [email protected]
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Abstract

This paper presents experimental evidence about how effectively individuals learn from information coming from heterogeneous sources. In the experiment, Thai subjects observed information that came from Americans and from other Thais that they could use to help them answer a series of questions. Despite listening too little to either group, subjects demonstrated a significant amount of statistical sophistication in how they weighed observed American information relative to observed Thai information. The data indicate that subjects understood that outside information has extra value because people from the same group tend to make the same kinds of mistakes. The results illustrate the importance of forming diverse groups to solve problems.

Keywords

Information aggregationLearningExperimental economics

JEL classification

C91: Laboratory, Individual Behavior D83: Search • Learning • Information and Knowledge • Communication • Belief • Unawareness
Type
Research Article
Information
Experimental Economics , Volume 12 , Issue 4 , December 2009 , pp. 386 - 416
Copyright
Copyright © Economic Science Association 2009

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Footnotes

Electronic supplementary material The online version of this article (http://dx.doi.org/10.1007/s10683-009-9220-1) contains supplementary material, which is available to authorized users.

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