This paper considers the tradeoff between the sluggishness in arriving at a group decision versus the greater accuracy of decisionmaking due to the pooling of information. Within the context of individualized information and cost of scheduling a meeting, we analyze the optimal size for a standing committee and an ad hoc committee. We show that the greater the cost of time delay and the less diverse the information, the smaller the optimal size of committee. We also find that when a committee is facing a larger number of similar decision-making problems, the optimal committee size is likely to be smaller.
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