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We report results from a laboratory experiment that explores the effects of preference communication and leader selection mechanisms in group decision-making. In a setting where all members of a group get the same payoff based on the group leader's decision of how much risk to take, we study the...
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experimental lab in three different informational settings, and study the role of information in individual decision making. Our … truthful preference revelation. In addition, we find that information has an important effect on truthful behavior and … stability. Nevertheless, regarding efficiency, the Gale-Shapley mechanism is less sensitive to the amount of information …
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generalized notion of) choice structure in terms of belief revision by adding: (1) the possibility that an item of ''information …'' might be discarded as not credible (thus dropping the AGM success axiom) and (2) the possibility that an item of information …, while not accepted as fully credible, may still be ''taken seriously'' (we call such items of information ''allowable''). We …
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of their private information. Hence, it is robust in the sense that it is not affected by errors in specifying these …
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