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Related: About this forumGroupthink: Collective Delusions in Organizations and Markets
I develop a model of (individually rational) collective reality denial in groups, organizations and markets. Whether participants' tendencies toward wishful thinking reinforce or dampen each other is shown to hinge on a simple and novel mechanism. When an agent can expect to benefit from other's delusions, this makes him more of a realist; when he is more likely to suffer losses from them this pushes him toward denial, which becomes contagious. This general "Mutually Assured Delusion" principle can give rise to multiple social cognitions of reality, irrespective of any strategic payoff interactions or private signals. It also implies that in hierachical organizations realism or denial will trickle down, causing subordinates to take their mindsets and beliefs from the leaders. Contagious "exuberance" can also seize asset markets, leading to evidence-resistant investment frenzies and subsequent deep crashes. In addition to collective illusions of control, the model accounts for the mirror case of fatalism and collective resignation. The welfare analysis differentiates valuable group morale from harmful groupthink and identifies a fundamental tension in organizations' attitudes toward free speech and dissent.
http://www.nber.org/papers/w14764
The author is not calling for these sorts of people to be institutionalized.
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Groupthink: Collective Delusions in Organizations and Markets (Original Post)
Warren Stupidity
Aug 2014
OP
Don't overlook our earlier bibliography for Psychology labelling religion "Delusion" etc.
Brettongarcia
Aug 2014
#1
Brettongarcia
(2,262 posts)1. Don't overlook our earlier bibliography for Psychology labelling religion "Delusion" etc.
stone space
(6,498 posts)3. Who's "us"?
...our...
rug
(82,333 posts)2. Do tell. What do you think is the religious significance of this five year old paper?