Decision theoretic models of group decision processes usually assume a given set of alternatives, about which the decision has to take place. In realistic group decision situations, however, alternatives are often not specified a priori, but are created during the group process from different...

This paper experimentally studies the disposition effects of teams and individuals. The disposition effect describes the phenomenon that investors are reluctant to realize losses, whereas winners are sold too early. Our experiments compare the investments of two-person teams to a setting where...