| Literature DB >> 35754989 |
Joaquin Navajas1,2,3, Oriane Armand4,5, Rani Moran6,7, Bahador Bahrami5,8,9, Ophelia Deroy4,5,10.
Abstract
Classic and recent studies demonstrate how we fall for the 'tyranny of the majority' and conform to the dominant trend when uncertain. However, in many social interactions outside of the laboratory, there is rarely a clearly identified majority and discerning who to follow might be challenging. Here, we asked whether in such conditions herding behaviour depends on a key statistical property of social information: the variance of opinions in a group. We selected a task domain where opinions are widely variable and asked participants (N = 650) to privately estimate the price of eight anonymous paintings. Then, in groups of five, they discussed and agreed on a shared estimate for four paintings. Finally, they provided revised individual estimates for all paintings. As predicted (https://osf.io/s89w4), we observed that group members converged to each other and boosted their confidence following social interaction. We also found evidence supporting the hypothesis that the more diverse groups show greater convergence, suggesting that the variance of opinions promotes herding in uncertain crowds. Overall, these findings empirically examine how, in the absence of a clear majority, the distribution of opinions relates to subjective feelings of confidence and herding behaviour.Entities:
Keywords: decision-making; diversity; group behaviour; herding; social interaction
Year: 2022 PMID: 35754989 PMCID: PMC9214281 DOI: 10.1098/rsos.191497
Source DB: PubMed Journal: R Soc Open Sci ISSN: 2054-5703 Impact factor: 3.653
Figure 1Experimental procedure. Sequence of events. The study took place in virtual meetings using Zoom (https://zoom.us/). (a) Individual estimates, (b) participants discussed their estimates in groups of five and provided collective estimates and (c) revised individual estimates.
Figure 2Power analysis. Probability to reject the null hypothesis in H4 as a function of resampled sample size (i.e. number of quintets). Power was estimated by computing the fraction of samples (out of 10 000) where we observed a significant result in our pilot data at 5% significance level.
Figure 3Herding behaviour and boost in confidence following social influence. (a) The log-variance of price estimates decreased from stage 1 to stage 3. (b) Mean confidence ratings increased from stage 1 to stage 3. (c) Herding, defined in equation (2.4), was more pronounced in discussed paintings compared to undiscussed paintings. (d) The change in confidence was approximately equal for discussed and undiscussed paintings. In all panels, dots represent mean and vertical lines depict SEM. Blue: data from stage 1. Red: data from stage 3. Black: data from discussed paintings. Grey: data from undiscussed paintings. n.s.: p > 0.05, **p < 0.01, ***p < 0.001.
Figure 4Diversity of beliefs, herding behaviour, and confidence. (a) Herding correlated positively with diversity. (b) We observed no correlation between change in confidence and diversity. In these panels, each dot represents a group, black lines show the best fitting linear regression, and we display in the Spearman correlation coefficients (rs) and its p-value. (c) Using the data obtained in the control study, we estimated the correlation between diversity and herding in the absence of social influence. Blue bars show the probability density of those correlation coefficients obtained without social interaction. The red dashed line shows the observed correlation coefficient in the main study (a).