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Group Decision Making Under Risk: An Experiment with Student Couples

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  • Haoran He

    ()

  • Peter Martinsson

    ()

  • Matthias Sutter

    ()

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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File URL: http://eeecon.uibk.ac.at/wopec2/repec/inn/wpaper/2011-27.pdf
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Bibliographic Info

Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2011-27.

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Length: 17
Date of creation: Dec 2011
Date of revision:
Handle: RePEc:inn:wpaper:2011-27

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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, 2005. "The Decision Maker Matters: Individual Versus Group Behaviour in Experimental Beauty-Contest Games," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 115(500), pages 200-223, 01.
  2. 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.
  3. 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.
  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. Alistair Munro & Ian Bateman, 2004. "An Experiment On Risky Choice Amongst Households," Royal Economic Society Annual Conference 2004, Royal Economic Society 77, Royal Economic Society.
  6. 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.
  7. 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.
  8. Carlsson, Fredrik & Martinsson, Peter & Qin, Ping & Sutter, Matthias, 2009. "Household Decision Making and the Influence of Spouses' Income, Education, and Communist Party Membership: A Field Experiment in Rural China," IZA Discussion Papers 4139, Institute for the Study of Labor (IZA).
  9. Rachel Croson & Uri Gneezy, 2009. "Gender Differences in Preferences," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 448-74, June.
  10. André Palma & Nathalie Picard & Anthony Ziegelmeyer, 2011. "Individual and couple decision behavior under risk: evidence on the dynamics of power balance," Theory and Decision, Springer, Springer, vol. 70(1), pages 45-64, January.
  11. Robert S. Shupp & Arlington Williams, 2003. "Risk Preference Differentials of Small Groups and Individuals," Working Papers, Ball State University, Department of Economics 200301, Ball State University, Department of Economics, revised Apr 2006.
  12. 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.
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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. 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.
  3. 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.

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