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Group Decision Making Under Risk: An experiment with student couples

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Author Info

  • He, Haoran

    ()
    (School of Economics and Business Administration, Beijing Normal University)

  • Martinsson, Peter

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

  • Sutter, Matthias

    ()
    (Dept of Public Finance, University of Innsbruck)

Abstract

In an experiment, we study risk-taking of cohabitating student couples, finding that couples’ decisions are closer to risk-neutrality than single partners’ decisions. This finding is similar to earlier experiments with randomly assigned groups, corroborating external validity of earlier results.

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Bibliographic Info

Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 519.

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Length: 9 pages
Date of creation: 15 Dec 2011
Date of revision:
Publication status: Published as He, Haoran, Peter Martinsson and Matthias Sutter, 'Group Decision Making Under Risk: An experiment with student couples' in Economic Letters, 2012, pages 691-693.
Handle: RePEc:hhs:gunwpe:0519

Note: Forthcoming in Economics Letters.
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Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Keywords: risk experiment; student couples; group decision making;

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References

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  1. Martin G. Kocher & Matthias Sutter, 2004. "The Decision Maker Matters: Individual versus Group Behaviour in Experimental Beauty-Contest Games," Papers on Strategic Interaction, Max Planck Institute of Economics, Strategic Interaction Group 2004-09, Max Planck Institute of Economics, Strategic Interaction Group.
  2. André De Palma & Nathalie Picard & Anthony Ziegelmeyer, 2009. "Individual and couple decision behavior under risk: Evidence on the dynamics of power balance," Working Papers hal-00418899, HAL.
  3. Fredrik Carlsson & Peter Martinsson & Ping Qin & Matthias Sutter, 2009. "Household decision making and the influence of spouses? income, education, and communist party membership: A field experiment in rural China," Working Papers 2009-09, Faculty of Economics and Statistics, University of Innsbruck.
  4. David J. Cooper & John H. Kagel, 2005. "Are Two Heads Better Than One? Team versus Individual Play in Signaling Games," American Economic Review, American Economic Association, American Economic Association, vol. 95(3), pages 477-509, June.
  5. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, American Economic Association, vol. 92(5), pages 1644-1655, December.
  6. RobertS. Shupp & ArlingtonW. Williams, 2008. "Risk preference differentials of small groups and individuals," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 118(525), pages 258-283, 01.
  7. Ronald J. Baker II & Susan K. Laury & Arlington W. Williams, 2008. "Comparing Small-Group and Individual Behavior in Lottery-Choice Experiments," Southern Economic Journal, Southern Economic Association, vol. 75(2), pages 367-382, October.
  8. Bone, John & Hey, John & Suckling, John, 1999. "Are Groups More (or Less) Consistent Than Individuals?," Journal of Risk and Uncertainty, Springer, Springer, vol. 18(1), pages 63-81, April.
  9. Prather, Larry J. & Middleton, Karen L., 2002. "Are N+1 heads better than one?: The case of mutual fund managers," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 47(1), pages 103-120, January.
  10. Rachel Croson & Uri Gneezy, 2009. "Gender Differences in Preferences," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 448-74, June.
  11. Ian Bateman & Alistair Munro, 2005. "An Experiment on Risky Choice Amongst Households," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 115(502), pages C176-C189, 03.
  12. Masclet, David & Colombier, Nathalie & Denant-Boemont, Laurent & Lohéac, Youenn, 2009. "Group and individual risk preferences: A lottery-choice experiment with self-employed and salaried workers," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 70(3), pages 470-484, June.
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Cited by:
  1. Haoran He & Marie Claire Villeval, 2014. "Are teams less inequality averse than individuals?," Working Papers halshs-00996545, HAL.
  2. Fredrik Carlsson & Peter Martinsson & Ping Qin & Matthias Sutter, 2013. "The influence of spouses on household decision making under risk: an experiment in rural China," Experimental Economics, Springer, Springer, vol. 16(3), pages 383-401, September.
  3. Mohammed Abdellaoui & Olivier l'Haridon & Corina Paraschiv, 2013. "Do Couples Discount Future Consequences Less than Individuals?," Economics Working Paper Archive (University of Rennes 1 & University of Caen), Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS 201320, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.

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