Title
An experimental study into the influence of works council advice on managerial decision-making An experimental study into the influence of works council advice on managerial decision-making
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Oxford ,
Subject
Economics
Source (journal)
Scandinavian journal of management. - Oxford
Volume/pages
30(2014) :3 , p. 358-371
ISSN
0956-5221
ISI
000341338800009
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Abstract
This paper experimentally studies the effect of works council advice on managerial decision-making, aiming to gain more insights into the fundamental mechanisms that may underlie the impact of works council advice. We conducted laboratory experiments in which subjects played a two-player Prisoner's Dilemma price-setting game as either a manager or works council representative. Half of the managers received an advice to opt for a low or a high price; the other half received no advice. Managers receiving advice to choose a low price (play Nash) have a higher tendency to choose a low price. Subjects with an other-regarding orientation tend to choose a high price. Furthermore, we found an interaction effect of advice for other-regarding managers.
E-info
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