The Surprising Role of Self-Efficacy in Collective Problem Solving

Dorit Geifman, Daphne Raban

نتاج البحث: فصل من :كتاب / تقرير / مؤتمرفصل


Self-efficacy is essential to learning but what happens when learning is done as a result of a collective process? What is the role of individual self-efficacy in collective problem solving? This research examines whether self-efficacy of traders in prediction markets, when configured as collective problemsolving platforms, affects market performance. Prediction markets are collective-intelligence platforms that use a financial markets mechanism to combine knowledge and opinions of a group of people. In these markets, traders express their opinions or knowledge by buying and selling "stocks" related to questions or events. The collective outcome is derived from the final price of the stocks. Self-efficacy, one’s belief in his or her ability to act in a manner that leads to success, is known to affect personal performance in many domains. To date, its manifestation in computer-mediated collaborative environments and its effect on the collective outcome has not been studied. In controlled experiments, 632 participants in 47 markets traded a solution to a complex problem, a naïve framing of the knapsack problem. The findings demonstrate that prediction markets form an effective collective problemsolving platform. They correctly aggregate individual knowledge and are resilient to traders' self-efficacy. (Abstract)
اللغة الأصليةالعبريّة
عنوان منشور المضيفהאדם הלומד בעידן הטכנולוגי: כנס צ'ייס למחקרי טכנולוגיות למידה (קובץ)
الصفحات10 (שבט תשע"ה, פברואר 2015), E1-E8
حالة النشرنُشِر - 2015

IHP Publications

  • !!ihp
  • פתרון בעיות
  • Problem solving
  • מסוגלות עצמית
  • Self-efficacy
  • שיתוף פעולה
  • Cooperativeness
  • חיזוי כלכלי
  • Economic forecasting
  • עבודת צוות
  • Teams in the workplace

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