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Individual or team decision-making-Causes and consequences of self-selection

  • Kocher, Martin G.
  • Strauß, Sabine
  • Sutter, Matthias

Even though decision-making in small teams is pervasive in business and private life, little is known about subjects' preferences with respect to individual and team decision-making and about the consequences of respecting these preferences. We report the results from an experimental beauty-contest game where subjects could endogenously choose their preferred way of decision-making. About 60% of them preferred to decide in a team, and teams won the game significantly more often than individuals did. Nevertheless, both individuals and teams were highly satisfied with their chosen role, though for different reasons.

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Paper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 18162.

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Date of creation: Aug 2006
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Publication status: Published in Games and Economic Behavior 2 56(2006-08): pp. 259-270
Handle: RePEc:lmu:muenar:18162
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