This study investigates the impact of an expert recommendation in group discussion to recency bias in investing decision. Recency bias decreases decision quality. Investors tend to weigh last information than previous ones in investing decision. An important feature of this experimental study is the use of an expert recommendation as an investors’ advisor in a group discussion. This study provides expert-recommendation information in group discussion. That recommendation is expected to influence individual decision of participants in a group discussion. The results give evidence that expert recommendation is useful in group discussion to minimize recency bias. Those findings contribute to recency bias studies in accounting and finance area
