What will you rely on when you make decisions in your company ?
Harvard Business School’s Francesca Gino published a working paper, “Getting Advice from the Same Source but at a Different Cost: Do We Over weigh Information Just Because We Paid for It?”
Gino’s results are based upon an experiment where subjects were asked to answer different sets of questions about American history and were provided the opportunity to receive free advice as well as costly advice—the same advice, as it turned out.
Gino’s conclusion: When the advice is costly, subjects are more inclined to take it into consideration and use it. And that conclusion can have profound consequences for consumers, managers, and organizations in their decision making, she says.
Click here to read More – Interview with Sean Silverthorne
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