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-maximizing recommendation on the basis of that signal. The individuals have identical preferences. The group makes a decision that maximizes the …
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We design a donations vs. own money choice experiment and compare the results from three different treatments. In two of the treatments the pay-offs are hypothetical. In the first of these, a short cheap talk script was used and subjects were required to state their own preferences in this...
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or being alone. In contrast to previous economic research on group decision-making, we excluded the effects of group …. Moreover, we adopted two collective decision rules, i.e., the median rule and the random rule, which provide the truth …, regardless of which collective decision rules are adopted. …
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