Intuitions about combining opinions: Misappreciation of the averaging principle
[abstract only; full text not retrieved, 2026-10-19] Larrick, R. P., & Soll, J. B. (2006). 'Intuitions about combining opinions: Misappreciation of the averaging principle.' Management Science, 52(1), 111-127. doi:10.1287/mnsc.1050.0459. Larrick first, Soll second, both Fuqua School of Business, Duke University. This is the paper that explains WHY discounting costs anything, and it supplies the mechanism the article needs. It defines bracketing, the case where two judges' estimates fall on opposite sides of the true value, and shows that under a convex loss function such as mean absolute deviation the average of two bracketing judges must beat the average judge's error. The finding is that p
[abstract only; full text not retrieved, 2026-10-19] Larrick, R. P., & Soll, J. B. (2006). 'Intuitions about combining opinions: Misappreciation of the averaging principle.' Management Science, 52(1), 111-127. doi:10.1287/mnsc.1050.0459. Larrick first, Soll second, both Fuqua School of Business, Duke University. This is the paper that explains WHY discounting costs anything, and it supplies the mechanism the article needs. It defines bracketing, the case where two judges' estimates fall on opposite sides of the true value, and shows that under a convex loss function such as mean absolute deviation the average of two bracketing judges must beat the average judge's error. The finding is that p
Written from the abstract only; full text not retrieved, 2026-10-19.
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Larrick, R. P., & Soll, J. B. (2006). Intuitions about combining opinions: Misappreciation of the averaging principle. Management Science, 52(1), 111-127. doi:10.1287/mnsc.1050.0459.