Barking Up the Right Tree : Are Small Groups Rational Agents ?

  title={Barking Up the Right Tree : Are Small Groups Rational Agents ?},
  author={James C. Cox and Stephen C. Hayne},
By James C. Cox and Stephen C. Hayne* Abstract Both mainstream economics and its critics have focused on models of individual rational agents even though most important decisions are made by small groups. Little systematic work has been done to study the behavior of small groups as decision-making agents in markets and other strategic games. This may limit the relevance of both economics and its critics to the objective of developing an understanding of how most important decisions are made. In… CONTINUE READING
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