Group decision making provides a mechanism for channeling individual members' knowledge into productive organizational outcomes. However, in hidden profile experiments in which group members have common information favoring an inferior choice, with private information favoring a superior choice,...

Experienced construction industry executives suffer from a winner's curse in laboratory common value auction markets (Dyer et al. [Dyer, D., J. H. Kagel, D. Levin. 1989. A comparison of naive and experienced bidders in common value offer auctions: Laboratory analysis. Econom. J. 99 108--115.])....