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...

We conducted an experimental study of price competition in a duopolistic market. The market was operationalized as a repeated game between two "teams" with one, two, or three players in each team. We found that asking (and winning) prices were significantly higher in competition between...