Are two heads better than one?: An experiment with novice share traders

Are two heads better than one?: An experiment with novice share traders

We compare the performance of individual and two-person teams in an electronic share-trading task. Trader profits are negatively related to the amount of trader market activity and positively related to trader confidence. While we find no evidence of a difference in trading profit between individual...

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Veröffentlicht in:Australian journal of management 2010-08, Vol.35 (2), p.119-143
Hauptverfasser: Heaney, Richard, Foster, F. Douglas, Gregor, Shirley, O'Neill, Terry, Wood, Robert
Format: Artikel
Sprache:eng
Schlagworte:
Attitudes
Clubs
Decision making
Electronic trading systems
Experiments
Individual performance
Investments
Profitability
Profits
Shares
Stock broking
Stock exchanges
Studies
Team performance
Teams
Teamwork
Volatility
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Beschreibung
Zusammenfassung:We compare the performance of individual and two-person teams in an electronic share-trading task. Trader profits are negatively related to the amount of trader market activity and positively related to trader confidence. While we find no evidence of a difference in trading profit between individual and team traders, profit volatility is more sensitive to trading activity for teams. Team trading profit is positively related to attitude and negatively related to perceptions of the difficulty of the task, with overall team trading activity negatively related to views of team members’ abilities. JEL Code: D44, G14
ISSN:0312-8962
1327-2020
DOI:10.1177/0312896210370078