The Role of Counterfactual Thinking in Group Decision Making

Abstract

The paper attempts to discuss the role of counterfactual thinking in the context of group decision-making. The paper presents a theoretical framework postulating relationships amongst different identified variables in the form of propositions in order to strengthen the arguments in favor of the theoretical framework. The paper argues that different types of counterfactual experiences i.e. self-referent and otherreferent counterfactual experiences as well as different directions of counterfactual experiences i.e. upward and downward counterfactual experiences, are likely to activate a counterfactual mind-set which leads to increased information search and sharing in groups, thereby affecting the accuracy of group decision making outcome, i.e. decision accuracy. Moreover, by employing the concept of cognitive complexity, it is proposed that dispositional factors are also likely to play an important role in information search and sharing and consequent group decision-making accuracy.