Individual and group behaviour in the traveler's dilemma: An experimental study

A. Morone, P. Morone and Anna Rita Germani ()
Authors registered in the RePEc Author Service: Andrea Morone and Piergiuseppe Morone ()

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2014, vol. 49, issue C, 1-7

Abstract: We provide an experimental test of the traveler's dilemma using individual and group data. Our investigation aims to assess whether individual decisions differ significantly from group decisions. Experimental findings reported in this paper show that: (1) groups are always more rational – i.e. their claims are closer to the Nash equilibrium; (2) the size of the penalty/reward influences convergence to the equilibrium both when decisions are taken individually or in groups; and (3) groups are more sensitive to the size of the penalty/reward.

Keywords: Traveler's dilemma; Individual and group decision (search for similar items in EconPapers)
JEL-codes: C91 C92 D70 D81 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Working Paper: Individual and Group Behaviours in the Traveller's Dilemma: An Experimental Study (2012)
Working Paper: Individual and group behaviours in the traveller’s dilemma: an experimental study (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:49:y:2014:i:c:p:1-7

DOI: 10.1016/j.socec.2014.02.001

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