Arbeitspapier
Are groups more rational than individuals? A review of interactive decision making in groups
Many decisions are interactive; the outcome of one party depends not only on its decisions or on acts of nature but also on the decisions of others. In the present article, we review the literature on decision making made by groups of the past 25 years. Researchers have compared the strategic behavior of groups and individuals in many games: prisoner's dilemma, dictator, ultimatum, trust, centipede and principal-agent games, among others. Our review suggests that results are quite consistent in revealing that groups behave closer to the game-theoretical assumption of rationality and selfishness than individuals. We conclude by discussing future research avenues in this area.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 3701
- Classification
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Design of Experiments: Laboratory, Group Behavior
- Subject
-
group decision making
interactive decision making
rationality
discontinuity effect
Gruppenentscheidung
Soziale Beziehungen
Rationales Verhalten
- Event
-
Geistige Schöpfung
- (who)
-
Kugler, Tamar
Kausel, Edgar E.
Kocher, Martin G.
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2012
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kugler, Tamar
- Kausel, Edgar E.
- Kocher, Martin G.
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2012
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