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a team decision algorithm, excess-risk vetoing, that combines simple majority voting with the right to veto alternatives …Many important economic and political decisions are made by teams. In the economic literature, however, the decision … extent observed team decisions under risk are actually consistent with the principles of rational choice, specifically the …
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The recent literature on individual vs. group decisions over risk has brought about divergent results, mainly depending on the institutional rules through which groups take decisions. While some studies where group decisions relied on the majority rule showed no appreciable difference between...
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