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faculty: "FEB" and publication year: "2006"
| Authors||M. Kocher, S. Strauß, M. Sutter|
|Title||Individual or team decision-making - Causes and consequences of self-selection|
|Journal||Games and Economic Behaviour|
|Faculty||Faculty of Economics and Business|
|Institute/dept.||FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM)|
|Abstract||Even though decision-making in small teams is pervasive in business and private life, little is known about subjects' preferences with respect to individual and team decision-making and about the consequences of respecting these preferences. We report the results from an experimental beauty-contest game where subjects could endogenously choose their preferred way of decision-making. About 60% of them preferred to decide in a team, and teams won the game significantly more often than individuals did. Nevertheless, both individuals and teams were highly satisfied with their chosen role, though for different reasons.
Keywords: Beauty-contest game; Team decision-making; Individual decision-making; Endogenous choice; Experiment
JEL classification codes: C72; C91; C92; J21; M54|
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