This paper is concerned with the role of committees in collective decision-making processes in a world where agents … must be motivated to collect information. Committees improve the quality of decision-making by providing information and by … affect final decisions? Second, what is the optimal composition of a committee from the decision maker's point of view? As to …

We study a decision process of a two-agent organization that consists of a decision-maker who selects a project and an … implementer who implements and executes the selected project. Each of the decision-maker and the implementer has intrinsic and … possibly divergent preferences over projects. Key features of the model are that (i) there is the separation of decision and …

This paper experimentally investigates structured investment decision-making with sequential information provision … boxes for the second step of the decision. Moving the cursor over a box uncovered the information. Duration and frequency of … uncovering the different information cues was recorded in a database. The main variables of interest were decision accuracy …

decision and to the decision itself based on this information. I focus on urn decisions and conduct treatments that consider … two ambiguous urns according to several heuristics. In contrast, personality traits and an individual’s primary decision …Die experimentelle Studie untersucht die individuelle Informationsnachfrage und Entscheidung in Situationen, in denen …

The current study examines individual decision making in the fi eld of personal finance. How do people arrive at a … financial decision? A laboratory experiment investigates the way external information is integrated into the decision making … show that participants with low financial literacy generally try to compensate for their low decision-specific knowledge …

Many committees - juries, political task forces, etc. - spend time gathering costly information before reaching a … decision. We report results from lab experiments focused on such information-collection processes. We consider decisions … decision accuracies over time. Furthermore, groups using majority rule yield especially hasty and inaccurate decisions …

are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

-contingent consequences. In a menu choice setting, we study an axiomatic model of decision making with scarce attention. A decision maker … satisfying our axioms acts as if she chooses a joint distribution over a product space of states and signals. The decision maker … scarcity from choice behavior, and thereby clarify the decision theoretic foundations of rational inattention models proposed …

We analyze how reputational concerns of arbitrators affect the quality of their decision process, in particular … acquisition but may induce arbitrators to bias their decisions towards one party in the dispute. This decision bias is greater …