Teams are shown to violate the most basic of equilibrium refinements in signaling games: single-round deletion of dominated strategies (part of the Cho–Kreps intuitive criteria). This is important because, to the extent that teams can be easily induced to violate the most basic of equilibrium...

We investigate the effect of group versus individual decision-making in the context of risky investment decisions in which all subjects are fully informed of the probabilities and payoffs. Although there is full information, the lottery choices pose cognitive challenges so that people may not be...