We study a model in which two perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single...

Experimental research on the credibility of advice in coordination games shows that advice can have considerable influence on players' behavior, even when this advice conflicts with payoff-dominance. A crucial feature of this prior research, however, is that the adviser has no share in the final...

Wie kommt die Normativität ins Spiel? Die ordonomische Antwort auf diese Frage lautet lapidar: durch institutionelle Reformen. Wie voraussetzungsreich diese Antwort ist, wird durch einen Vergleich des ordonomischen Forschungsprogramms mit Friedrich Schillers politischer Reformagenda einer...

Decision makers lacking crucial specialist know-how often consult with better informed but biased experts. In our model the decision maker's choice problem is binary and her preferred option depends on the state of the world unknown to her. The expert observes the state and sends a report to the...

Invasive species are one of the main reasons for the loss of biodiversity. Therefore, national strategies are developed to deal with biological invasions. Economic evaluation as a tool of policy advice has to take into account three challenges: (1) reflecting ecological knowledge, which is...

To reduce the chances of policy failures, policy makers need information about the effects of policies. Sometimes, policy makers can rely on agents who already possess the information. Often, the information has yet to be produced. This raises two problems. First, for a policy maker it is hard...