Management Craft

Richard P. Larrick

Researcher

Behavioural decision researcher at Duke University's Fuqua School of Business; co-author with Jack Soll of the averaging principle — combining a few judgments produces a more accurate estimate than the average individual judge alone.

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Intuitions About Combining Opinions: Misappreciation of the Averaging PrinciplePaper · 2003Larrick and Soll's 2003 demonstration that people hold the wrong theory about combining opinions: most expect the average of two judges to be no better than the average judge, when in fact it beats the average judge whenever their errors fall on opposite sides of the truth.