Individual or team decision-making-Causes and consequences of self-selection

Martin Kocher, Sabine Strauß and Matthias Sutter

Munich Reprints in Economics from University of Munich, Department of Economics

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.

JEL-codes: C72 C91 C92 J21 M54 (search for similar items in EconPapers)
Date: 2006-08
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Citations: View citations in EconPapers (47)

Published in Games and Economic Behavior 2 56(2006-08): pp. 259-270

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Related works:
Journal Article: Individual or team decision-making--Causes and consequences of self-selection (2006)
Working Paper: Individual or team decision-making - Causes and consequences of self-selection (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:lmu:muenar:18162

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