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

Author

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

Abstract

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.

Suggested Citation

  • Kocher, Martin G. & Strauß, Sabine & Sutter, Matthias, 2006. "Individual or team decision-making-Causes and consequences of self-selection," Munich Reprints in Economics 18162, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:18162
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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