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Promises in Group Decision Making

Valeria Faralla (), Guido Borà (), Alessandro Innocenti () and Marco Novarese ()

Labsi Experimental Economics Laboratory University of Siena from University of Siena

Abstract: We assess in the laboratory the impact of promises on group decision-making. The gift-exchange game provides the testing ground for our experiment. When played between groups, inter-group cooperation and reciprocity represent a condition for efficiency in overall decision making. We find that promises have a significant positive effect on aggregate profits. We interpret these findings as if promises act as a trigger of social conformity, according to which groups adopt socially more desirable behavior even without face-to-face communication or discussion.

Keywords: group decision; promise; gift-exchange game; efficiency; social conformity. (search for similar items in EconPapers)
JEL-codes: D81 D83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-soc
Date: 2018-05
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Persistent link: https://EconPapers.repec.org/RePEc:usi:labsit:051

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