Economic small group research points to groups as more rational decision-makers in numerous economic situations. However, no attempts have been made to investigate whether groups are affected similarly by behavioral biases that are pervasive for individuals. If groups were also able to more...

Economic small group research points to groups as more rational decision-makers in numerous economic situations. However, no attempts have been made to investigate whether groups are affected similarly by behavioral biases that are pervasive for individuals. If groups were also able to more...

We report results from a laboratory experiment that explores the effects of preference communication and leader selection mechanisms in group decision-making. In a setting where all members of a group get the same payoff based on the group leader's decision of how much risk to take, we study the...