Glaetzle-Ruetzler, Daniela, Lergetporer, Philipp and Sutter, Matthias ORCID: 0000-0002-6143-8706 (2021). Collective intertemporal decisions and heterogeneity in groups. Games Econ. Behav., 130. S. 131 - 148. SAN DIEGO: ACADEMIC PRESS INC ELSEVIER SCIENCE. ISSN 1090-2473

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Abstract

Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group members' heterogeneous payoffs from waiting on intertemporal choices. We find that three-person groups behave more patiently than individuals. This effect stems from the presence of at least one group member with a high payoff from waiting. We analyze additional treatments, group chat content, and survey data to uncover the mechanism through which heterogeneity in groups increases patience. (C) 2021 Elsevier Inc. All rights reserved.

Item Type: Journal Article
Creators:
CreatorsEmailORCIDORCID Put Code
Glaetzle-Ruetzler, DanielaUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Lergetporer, PhilippUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Sutter, MatthiasUNSPECIFIEDorcid.org/0000-0002-6143-8706UNSPECIFIED
URN: urn:nbn:de:hbz:38-595136
DOI: 10.1016/j.geb.2021.07.009
Journal or Publication Title: Games Econ. Behav.
Volume: 130
Page Range: S. 131 - 148
Date: 2021
Publisher: ACADEMIC PRESS INC ELSEVIER SCIENCE
Place of Publication: SAN DIEGO
ISSN: 1090-2473
Language: English
Faculty: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
TIME-PREFERENCES; RISK PREFERENCES; DYNAMIC CHOICE; PATIENCE; COMMUNICATION; INDIVIDUALS; CONSISTENCY; AGREEMENT; CHILDREN; AVERSIONMultiple languages
EconomicsMultiple languages
URI: http://kups.ub.uni-koeln.de/id/eprint/59513

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