Groups Make Better Self-Interested Decisions

In this paper, we describe what economists have learned about differences between group and individual decision-making. This literature is still young, and in this paper, we will mostly draw on experimental work (mainly in the laboratory) that has compared individual decision-making to group decisio...

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Bibliographic Details
Published in:	The Journal of economic perspectives Vol. 26; no. 3; pp. 157 - 176
Main Authors:	Charness, Gary, Sutter, Matthias
Format:	Journal Article
Language:	English
Published:	Nashville American Economic Association 01.07.2012
Subjects:	Behavior Cognitive bias College students Decision making Economic behavior Economic models Economic policy Economic research Economic theory Economics Economics education Economists Eigeninteresse Error rates Experimental methods Field experiments Game theory Games Group decision making Groups Gruppenentscheidung Kognition Laboratories Membership Nationalekonomi Productivity Public finance Rationality Retirement Social interaction Social welfare Studies Test Undergraduate students
ISSN:	0895-3309, 1944-7965
Online Access:	Get full text
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