Recent research has advanced our understanding of how people use the advice of others to update their beliefs. Because groups and teams play a significant role in organizations and collectively are wiser than their individual members, it is important to understand their influence on belief...

Due to an error in typesetting, Figures 1-4 and Tables 1-3 were incorrectly labeled as part of this paper in Management Science, Vol. 52, No. 1, January 2006, pp. 111-127. The figures and tables are reprinted correctly below and in the electronic version.

Averaging estimates is an effective way to improve accuracy when combining expert judgments, integrating group members' judgments, or using advice to modify personal judgments. If the estimates of two judges ever fall on different sides of the truth, which we term bracketing, averaging must...

Using the wisdom of crowds -- combining many individual judgments to obtain an aggregate estimate -- can be an effective technique for improving judgment accuracy. In practice, however, accuracy is limited by the presence of correlated judgment errors, which often emerge because information is...