Showing 1 - 10 of 3,196
This paper studies the assignment of decision makers to two committees that make decisions by a simple majority rule. There is an even number of decision makers at each of various skill levels and each committee has an odd number of members. Surprisingly, even with the symmetric assumptions in...
Persistent link: https://www.econbiz.de/10009309640
This paper studies the assignment of decision makers to two committees that make decisions by a simple majority rule. There is an even number of decision makers at each of various skill levels and each committee has an odd number of members. Surprisingly, even with the symmetric assumptions in...
Persistent link: https://www.econbiz.de/10009162101
We propose the concept of level r consensus as a useful property of a preference profile which considerably enhances the stability of social choice. This concept involves a weakening of unanimity, the most extreme form of consensus. It is shown that if a preference profile exhibits level r...
Persistent link: https://www.econbiz.de/10010356368
We investigate how individuals think groups should aggregate members' ordinal preferences - that is, how they interpret "the will of the people." In an experiment, we elicit revealed attitudes toward ordinal preference aggregation and classify subjects according to the rules they apparently...
Persistent link: https://www.econbiz.de/10012625509
We consider a general equilibrium model where groups operating in a competitive market environment can have several members and make efficient collective consumption decisions. Individuals have the option to leave the group and make it on their own or join another group. We study the effect of...
Persistent link: https://www.econbiz.de/10001771990
This paper investigates whether distributional conflicts become more likely when groups are involved in the fight. We present results from a laboratory experiment in which two parties can appropriate resources via a contest or, alternatively, take an outside option. Keeping monetary gains...
Persistent link: https://www.econbiz.de/10014390274
This study measures the differences in ambiguity attitudes of groups and individuals in the gain and loss domain. We elicit the ambiguity attitudes and ambiguity-generated insensitivity for natural temperature events. We do not find significant differences between individuals and groups in our...
Persistent link: https://www.econbiz.de/10014431395
Interrelated global crises - climate change, pandemics, loss of ecosystem services and biodiversity - pose risks that demand collective solutions. Uncertainty about others' behavior, coupled with the dependence on some to take collective efforts to mitigate risks for all (e.g. conservation of...
Persistent link: https://www.econbiz.de/10015271363
Using a series of controlled laboratory experiments involving decisions to intervene in others’ choice opportunities; we find that groups grant more autonomy to others than individuals. This finding is robust across two decision contexts, one involving individual decision-making (Internality)...
Persistent link: https://www.econbiz.de/10015164673
We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced by Smith, Suchanek and Williams (1988). We find that populating such markets with teams of size two instead of individuals significantly reduces the severity of mispricing. In...
Persistent link: https://www.econbiz.de/10003905592