The intrinsic value of decision rights: A replication and an extension to team decision making

Justin Buffat, Matthias Praxmarer and Matthias Sutter

Journal of Economic Behavior & Organization, 2023, vol. 209, issue C, 560-571

Abstract: We present a replication of Bartling et al. (2014) who developed an experiment to measure the intrinsic value of decision rights. We can confirm their seminal results for individuals with remarkable accuracy, thus strongly confirming the prior of a robust result. Motivated by the observation that team decision making is ubiquitous, we then extend their design by studying how teams value decision rights. In the aggregate, we find no differences between individuals and teams. However, in our exploratory analysis, we uncover an important heterogeneity: teams with a smooth decision making process have much lower intrinsic values of decision rights than individuals, but teams with internal conflicts have much higher values, thus distorting decisions.

Keywords: Decision rights; Intrinsic value; Team decision making; Experiment (search for similar items in EconPapers)
JEL-codes: C92 D23 D80 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:209:y:2023:i:c:p:560-571

DOI: 10.1016/j.jebo.2023.03.019

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