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

Kocher, Martin G.; Strauß, Sabine and Sutter, Matthias (August 2006): Individual or team decision-making-Causes and consequences of self-selection. In: Games and Economic Behavior, Vol. 56, No. 2: pp. 259-270

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.

• Item Type: Journal article
• Faculties: Economics; Economics > Chairs > Chair of Empirical Economics
• Subjects: 300 Social sciences > 330 Economics
• JEL Classification: C72, C91, C92, J21, M54
• ISSN: 0899-8256
• Language: English