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Individual vs. group decision-making: an experiment on dynamic choice under risk and ambiguity
2019
Theory and Decision
This paper focuses on comparing individual and group decision making, in a stochastic inter-temporal problem in two decision environments, namely risk and ambiguity. Using a consumption/saving laboratory experiment, we investigate behaviour in four treatments: (1) individual choice under risk; (2) group choice under risk; (3) individual choice under ambiguity and (4) group choice under ambiguity. Comparing decisions within and between decision environments, we find an anti-symmetric pattern.
doi:10.1007/s11238-019-09694-8
fatcat:vzoqxxwyanbmjaublrlxnr2pmi