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Are four heads better than two? An experimental beauty-contest game with teams of different size

  • Sutter, Matthias

We examine the influence of team size on decision making in a beauty-contest experiment. Teams with four members outperform teams with two members and single persons significantly, whereas the latter two types of decision makers do not differ.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165-1765(05)00034-0
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 88 (2005)
Issue (Month): 1 (July)
Pages: 41-46

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Handle: RePEc:eee:ecolet:v:88:y:2005:i:1:p:41-46
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Güth, Werner & Kocher, Martin G. & Sutter, Matthias, 2002. "Experimental 'beauty contests' with homogeneous and heterogeneous players and with interior and boundary equilibria," Munich Reprints in Economics 18165, University of Munich, Department of Economics.
  2. Nagel, Rosemarie, 1995. "Unraveling in Guessing Games: An Experimental Study," American Economic Review, American Economic Association, vol. 85(5), pages 1313-26, December.
  3. John Bone & John Hey & John Suckling, . "A Simple Risk-Sharing Experiment," Discussion Papers 00/36, Department of Economics, University of York.
  4. Bettina Kuon & Abdolkarim Sadrieh & Barbara Mathauschek, 1999. "Teams Take the Better Risks," Discussion Paper Serie B 452, University of Bonn, Germany.
  5. Duffy, John & Nagel, Rosemarie, 1997. "On the Robustness of Behaviour in Experimental "Beauty Contest" Games," Economic Journal, Royal Economic Society, vol. 107(445), pages 1684-1700, November.
  6. Martin G. Kocher & Matthias Sutter, 2005. "The Decision Maker Matters: Individual Versus Group Behaviour in Experimental Beauty-Contest Games," Economic Journal, Royal Economic Society, vol. 115(500), pages 200-223, 01.
  7. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
  8. 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, vol. 95(3), pages 477-509, June.
  9. James C. Cox & Stephen C. Hayne, . "Barking Up the Right Tree: Are Small Groups Rational Agents?," Experimental Economics Center Working Paper Series 2006-02, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
  10. Rosemarie Nagel & Antoni Bosch-Domènech & Albert Satorra & José García Montalvo, 1999. "One, two, (three), infinity: Newspaper and lab beauty-contest experiments," Economics Working Papers 438, Department of Economics and Business, Universitat Pompeu Fabra.
  11. Bone, John & Hey, John & Suckling, John, 1999. "Are Groups More (or Less) Consistent Than Individuals?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 63-81, April.
  12. Alan S. Blinder & John Morgan, 2000. "Are Two Heads Better Than One?: An Experimental Analysis of Group vs. Individual Decisionmaking," NBER Working Papers 7909, National Bureau of Economic Research, Inc.
  13. Gary Bornstein & Ilan Yaniv, 1998. "Individual and Group Behavior in the Ultimatum Game: Are Groups More “Rational” Players?," Experimental Economics, Springer, vol. 1(1), pages 101-108, June.
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