BLOOMINGTON, Ind. – Two emerging scholars in decision sciences and business analytics at Indiana University’s Kelley School of Business have been honored for early research that is expected to make important contributions to the field.
Asa Palley, an assistant professor of operations and decision sciences (pictured left), received the Hillel Einhorn New Investigator Award at the Society for Judgment and Decision Making conference in New Orleans.
The purpose of this award is to encourage outstanding work by new researchers who have completed their Ph.D. within the last five years.
Palley won for his paper, “Extracting the Wisdom of Crowds When Information is Shared,” which is forthcoming in the journal Management Science.
“Much has been written about the wisdom of crowds – averaging the opinions of many people can perform as well or better than individual experts,” he said. “However, the wisdom of crowds is hampered when each crowd member taps into shared information in addition to their own personal reservoir of knowledge.
“We develop a new method – pivoting – that can overcome the shared information problem and thereby harness the complete wisdom of the crowd,” Palley added.