کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
883524 | 1471660 | 2014 | 12 صفحه PDF | دانلود رایگان |
• We compare ambiguity attitudes of groups and individuals in a laboratory experiment.
• Groups are more likely to make ambiguity neutral decisions than individuals.
• Individuals make more ambiguity neutral decisions after a group discussion.
• The results might be driven by persuasive communication that takes place in groups.
This paper focuses on decisions under ambiguity. Participants in a laboratory experiment made decisions in three different settings: (a) individually, (b) individually after discussing the decisions with two others, and (c) in groups of three. We show that groups are more likely to make ambiguity-neutral decisions than individuals, and that individuals make more ambiguity-neutral decisions after discussing the decisions with others. This shift toward higher ambiguity neutrality in groups and after a group discussion is associated with a reduction in the rates of both ambiguity aversion and ambiguity seeking. We suggest that the results might be driven by effective and persuasive communication that takes place in groups.
Journal: Journal of Economic Behavior & Organization - Volume 103, July 2014, Pages 60–71