Don't Let Your Emotions Make Your Decisions. Try The Revolving Door Test For Decision-Making.

1. Free discussion: all viewpoints and different aspects of an issue are openly debated and where everyone has a chance to speak or express their opinions.
2. Reaching a clear decision. The terms of the decision should be framed with utter clarity.
3. Everyone involved must give the decision reached by the group full support. This does not necessarily mean agreement: so long as the participants commit to back the decision, that is a satisfactory outcome. 

Peers tend to look for a more senior manager, even if he is not the most competent or knowledgeable person involved, to take over because they are afraid to stick their necks out.

You can overcome the peer-group syndrome by fostering self-confidence, which stems from being familiar with the issue under consideration, experience and the realization that nobody has ever died from making a wrong business decision.