We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of assets in a market context. Teams of traders learn the task's...

We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of assets in a market context. Teams of traders learn the task's...

A vast literature shows that individuals frequently violate normative principles in reasoning. In this paper, we report the results of four studies designed to determine if information dissemination in competitive auctions can reduce, or even eliminate, logical errors in the Wason selection...

A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluating the relevance of these findings for psychology, economics, and related disciplines, it is natural to ask whether reasoning errors reflect random aberrations or systematic biases. One...

A vast literature shows that individuals frequently fail to identify the normative solutions in logical reasoning tasks. Much attention has been devoted to the study of these deviations at the individual level; less eVort was exerted to investigate whether institutional settings might facilitate...

We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of "assets" in a market context. Teams of traders learn the task’s...

We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of ?assets? in a market context. Teams of traders learn the task?s...