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We study the design of contracts that incentivize experts to collect information and truthfully report it to a decision maker. We depart from most of the previous literature by assuming that the transfers cannot depend on the realized state or on the ex post payoff of the decision maker. The...
Persistent link: https://www.econbiz.de/10012806483
The rational inattention literature is split between two versions of the model: in one, mutual information of states and signals are bounded by a hard constraint, while, in the other, it appears as an additive term in the decision maker's utility function. The resulting constrained and...
Persistent link: https://www.econbiz.de/10012432524
We study the design of contracts that incentivize experts to collect information and truthfully report it to a decision maker. We depart from most of the previous literature by assuming that the transfers cannot depend on the realized state or on the ex post payoff of the decision maker. The...
Persistent link: https://www.econbiz.de/10013189061
A planner wants to elicit information about an agent's preference relation, but not the entire ordering. Specifically, preferences are grouped into "types", and the planner only wants to elicit the agent's type. We first assume beliefs about randomization are subjective, and show that a space of...
Persistent link: https://www.econbiz.de/10013189077
The rational inattention literature is split between two versions of the model: in one, mutual information of states and signals are bounded by a hard constraint, while, in the other, it appears as an additive term in the decision maker's utility function. The resulting constrained and...
Persistent link: https://www.econbiz.de/10013200066
Persistent link: https://www.econbiz.de/10011563396
Persistent link: https://www.econbiz.de/10011563400
A planner wants to elicit information about an agent's preference relation, but not the entire ordering. Specifically, preferences are grouped into "types", and the planner only wants to elicit the agent's type. We first assume beliefs about randomization are subjective, and show that a space of...
Persistent link: https://www.econbiz.de/10012587415
Say that one information structure is eventually Blackwell sufficient for another if, for every large enough n, an n‐sample from the first is Blackwell sufficient (Blackwell (1951, 1954)) for an n‐sample from the second. This note shows that eventual Blackwell sufficiency lies strictly...
Persistent link: https://www.econbiz.de/10011006221
Spatial models of political competition are typically based on two assumptions. One is that all the voters identically perceive the platforms of the candidates and agree about their score on a "valence" dimension. The second is that each voter's preferences over policies are decreasing in the...
Persistent link: https://www.econbiz.de/10005260121