Group decision-making in a collectivist culture

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This work identifies differences between individuals and groups in China, focusing on personal risk attitudes, susceptibility to anchoring, and overconfidence as predictors of corporate investment decisions. Given the lack of evidence from a Chinese sample, this experimental study aims to expand on prior findings related to investment behavior in group decisions, involving a larger sample of Chinese citizens and future economists, while also exploring group effects in collectivist cultures. It is posited that Chinese students exhibit anchoring effects and overconfidence similar to their counterparts in Europe and the US. Initial studies indicate that individuals in China are generally more risk-averse than groups. To test these hypotheses, participants engaged in tasks measuring individual and collective risk dispositions, alongside assessments of anchoring and confidence. This thesis highlights the limitations of existing decision-making theories in explaining unique behavioral patterns in China. A total of 416 Chinese BBA students were examined, revealing significant differences in risk attitudes between individuals and groups, with groups showing a stronger willingness to invest. Consistent with findings from Europe and the U.S., Chinese groups also demonstrated a greater propensity for risky decisions. While results on overconfidence and anchoring were robust among Chinese students, they did not significantly differ betwee