We report a controlled laboratory experiment examining risk-taking and information aggregation in groups facing a common risk. The experiment allows us to examine how subjects respond to new information, in the form of both privately observed signals and signals reported from others. We find...

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table with an individual preference for a choice under risk, based on privately received information, and can share this information with fellow group members. They then make a decision...

This paper presents an experimental study that compares the ability of human groups to escape the tragedy of the commons through institutional change or communication. Teams of five players are placed in a dynamic CPR environment with inefficient institutional settings. The results clearly show...

This paper presents an experimental study on the ability of human groups to escape the tragedy of the commons through institutional change. It shows that the groups identify institutional change as a means of resolving social dilemmas and are ready to apply it even if the change requires an...

This paper presents an experimental study on the ability of human groups to escape the tragedy of the commons through institutional change. It shows that the groups identify institutional change as a means of resolving social dilemmas and are ready to apply it even if the change requires an...

We investigate the potential of transparency to influence committee decision-making. We present a model in which career concerned committee members receive private information of different type-dependent accuracy, deliberate and vote. We study three levels of transparency under which career...

We show theoretical and experimental results that demonstrate the potential of transparency to influence committee decision making and deliberation. We present a model in which committee members have career concerns and unanimity is needed to change the status quo. We study three scenarios -...

Using an experiment with incentivized decisions of groups in the economics laboratory, I investigate the effect of group diversity on group risk taking. I measure econometrically the effects of various aspects of subjects' diversity: nationality, language, university degree and gender. I find...

We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information aggregation. On the one hand, the expected benefit...