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Beyond Outcomes: Experimental Evidence on the Value of Agreement

Philippos Louis, Matias Nuñez and Dimitrios Xefteris

University of Cyprus Working Papers in Economics from University of Cyprus Department of Economics

Abstract: Does an individual assign a higher value to a group decision she has explicitly agreed with? Or does she only care about the intrinsic features of the outcome? Since it is difficult to address this question in natural settings, we employ a laboratory experiment where, after the group collectively decides on an issue, each individual may propose a revision to the group decision. We find that outcomes generated by congruent mechanisms i.e. procedures that incentivize subjects to agree with the winning alternative- are revised to a far lesser extent compared to outcomes generated by outcome-wise identical mechanisms that encourage disagreement.

Keywords: implementation; mechanism design; consensus; agreement; congruence; experiment; endorsements (search for similar items in EconPapers)
JEL-codes: D71 D72 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm and nep-exp
Date: 2018-05
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