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The fluctuations in incomes inherent in rural communities can be attenuated by reciprocal insurance. We develop a model of such insurance based on self-interested behaviour and voluntary participation. One individual assists another only if the costs of so doing are outweighed by the benefits...
Persistent link: https://www.econbiz.de/10001676256
The fluctuations in incomes inherent in rural communities can be attenuated by reciprocal insurance. We develop a model of such insurance based on self-interested behaviour and voluntary participation. One individual assists another only if the costs of so doing are outweighed by the benefits...
Persistent link: https://www.econbiz.de/10013320587
on the decision making procedure within groups. A novel decision making protocol opens up the black box of group decision …
Persistent link: https://www.econbiz.de/10014108168
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This paper experimentally explores group decision-making in a two-player power-to-take game. Discussions preceding … with individual behavior, group behavior depends crucially on the decision rules that subject use to arrive at their group … decision; (2) groups ignore the decision rule of their opponents and typically view other groups as if they were single agents …
Persistent link: https://www.econbiz.de/10011539904
group of people who make a decision by voting on a proposal. An outside expert who observes the qualities of a proposal … sends a cheap talk message to decision makers with limited information. A simple cheap talk strategy of the expert can be … surprisingly effective in persuading decision makers by polarizing or unifying their opinions. When there is a significant …
Persistent link: https://www.econbiz.de/10012953021
We develop a model of strategic information transmission from an expert with informational superiority to decision … persuading decision makers by polarizing or unifying their opinions. After observing the expert's cheap talk message, decision … her own bias. In other words, the expert's cheap talk prevents a voting procedure from aggregating decision makers …
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