Are N+1 heads better than one?: The case of mutual fund managers

By Laurie Prather, Karen L. Middleton. 2002

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Group and individual risk preferences : a lottery-choice experiment (2006, unknown): “…empirical results based on natural data concerning team versus individual decisions can be found in the existing literature (financial decisions in Prather and Middleton, 2002; productivity in Hamilton et al., 2003; and betting in Adams and Ferreira, 2005), but the majority of results have come…”
The Prevalence of the Disposition Effect in Mutual Funds’ Trades (2012, background): “…a contribution to a recent strand of literature with mixed findings on the superiority of team-manager versus singlemanager fund structures (see Massa, Reuter, and Zitzewitz (2010), Han, Noe, and Rebello (2008), Chen, Hong, Huang, and Kubik (2004), Qiu (2003), and Prather and Middleton (2002)).”
Individual versus group behavior and the role of the decision making procedure in gift-exchange experiments (2007, background): “Prather and Middleton (2002) find that there is no appreciable difference between the outcomes of team-managed and individually-managed funds.”
THE DECISION MAKER MATTERS: INDIVIDUAL VERSUS GROUP BEHAVIOUR IN EXPERIMENTAL BEAUTY- (2005, unknown): “In fact, there is no significant difference in the mean of individuals and groups (Mann-Whitney U-test).”