Much remains to be done in comparing actions of groups and individuals in a wider variety of contexts. But these results intrigue, because they seem to point toward an economic theory of when group decision-making might be preferable to that of individuals, and vice versa. For example, when looking at a potentially complex problem, where the appropriate decision isn't clear, getting a group of people with diverse backgrounds and information can be quite helpful in leading to a more rational decision. But groups can also become large enough that they don't work well in gathering input from individuals, and become unable to move ahead with decisions.
Groups can also fall into a feedback loop like, group-think that produces bubbles like the beanie-babies, the Tulip, Dotcom, and real estate bubbles. I think the current "government is the problem" mania is a group think bubble.
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