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
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
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Persistent link: https://EconPapers.repec.org/RePEc:usi:labsit:051
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