Teams take the better risks

Journal of Economic Behavior and Organization

Volumn 63, Issue 3, 2007, Pages 412-422

  Rockenbach, Bettina ^a   Sadrieh, Abdolkarim ^b   Mathauschek, Barbara ^c  

^a UNIVERSITY OF ERFURT   (Germany)

^b OTTO VON GUERICKE UNIVERSITY   (Germany)

^c UNIVERSITY OF BONN   (Germany)

Author keywords

Decision under risk; Expected utility; Group decision; Portfolio selection

Indexed keywords

EID: 33947576287     PISSN: 01672681     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jebo.2005.04.023     Document Type: Article

References (22)

1. Abbink, K., Sadrieh, A., 1995. RatImage-Research Assistance Toolbox for Computer-Aided Human behavior Experiments, SFB 303 Discussion Paper No. B-325, University of Bonn.
2. Adams, R.B., Ferreira, D., 2003. Individual versus Group Decision Making: A Comparison Using Data on Bets on Ice Breakups in Alaska, mimeo, Stockholm School of Economics.
3. Barber B., and Odean T. Too many cooks spoil the profits: the performance of investment clubs. Financial Analyst Journal 56 (2000) 17-25
4. Becker G.M., DeGroot M.H., and Marschak J. Measuring utility by a single-response sequential method. Behavioral Science 9 (1964) 226-232
5. Blinder A., and Morgan J. Are two heads better than one? Monetary policy by committee. Journal of Money, Credit, and Banking 37 5 (2005) 789-812
6. Bone J., Hey J., and Suckling J. Are groups more consistent than individuals?. Journal of Risk and Uncertainty 18 (1999) 63-81
7. Bornstein G., and Yaniv I. Individual and group behavior in the ultimatum game: are groups more "rational" players?. Experimental Economics 1 (1998) 109-118
8. Brachinger H.W., and Weber M. Risk as a primitive: a survey of measures of perceived risk. OR Spektrum 19 (1997) 235-250
9. Burnstein E., Vinokur A., and Trope Y. Interpersonal comparison versus persuasive argument: a more direct test of alternative explanations for group-induced shifts in individual choices. Journal of Experimental Social Psychology 9 (1973) 236-245
10. Camerer C. Choice under risk and uncertainty. In: Kagel J.H., and Roth A.E. (Eds). Handbook of Experimental Economics (1995), Princeton University Press, Princeton 617-673
11. Cason T., and Mui V.-L. A laboratory study of group polarisation in the team dictator game. Economic Journal 107 (1997) 1465-1483
12. Cox, J.C., Hayne, S.C., 1998. Group versus Individual Decision-Making in Strategic Market Games, mimeo, University of Arizona and Arizona State University West.
13. Gooding A.E. Quantification of investors' perceptions of common stocks: risk and return dimensions. Journal of Finance 30 (1975) 1301-1316
14. Grether D.M., and Plott C.R. Economic theory of choice and the preference reversal phenomenon. American Economic Review 69 (1979) 623-638
15. Kahneman D., and Tversky A. Prospect theory: an analysis of decision under risk. Econometrica 47 (1979) 263-291
16. Kocher M.G., and Sutter M. The decision maker matters: individual versus group behavior in experimental beauty-contest games. Economic Journal 115 (2005) 200-223
17. Kroll Y., Levy H., and Rapoport A. Experimental test of the mean-variance model for portfolio selection. Organizational Behavior and Human Decision Processes 42 (1988) 388-410
18. Kroll Y., Levy H., and Rapoport A. Experimental test of the separation theorem and the capital asset pricing model. American Economic Review 78 (1988) 500-519
19. Markowitz H. Portfolio selection. Journal of Finance 7 (1952) 77-91
20. Rapoport A., Zwick F., and Funk S.G. Selection of portfolios with risky and riskless assets: experimental tests of two expected utility models. Journal of Economic Psychology 9 (1988) 169-194
21. von Neumann J., and Morgenstern O. Theory of Games and Economic Behavior (1944), Princeton University Press, Princeton
22. Weber E.U., and Milliman R.A. Perceived risk attitudes: relating risk perception to risky choice. Management Science 43 (1997) 123-144