Groupthink in Investment Economics

Groupthink, a behavioral phenomenon occurring within a group of individuals whereby consensus is reached collectively by avoiding controversial constructs. While the theory is nothing new, scientific validity has yet to be fully developed and accepted by scientific researchers working within the various areas of behavioral science, let alone the educated population at large. Nonetheless, ideas surrounding groupthink have far-reaching tentacles that cross disciplines and multi-disciplines in business, management, finance, economics, engineering, science, education, healthcare, and every other conceived discipline or activity where persons regularly work collectively to make decisions.