An agent searches sequentially for advice from multiple experts concerning the payoff of taking an operation. After … infinitely many experts, each has access to an identically and conditionally independent signal structure about the payoff, and … each makes a recommendation after observing the signal realization. We find that the experts face a loser's curse, which …

In this paper, we consider a committee of experts that decides whether to approve or reject a proposed innovation on …

We provide an explanation for why committees may behave over-cautiously. A committee of experts makes a decision on a … evidence and the best practices of the experts' common discipline, which is only indirectly related to the true state of the … dieser Innovation durch jeden Experten erfolgt auf der Grundlage dessen, was in der gemeinsamen Disziplin als allgemein …

loss are random and correlated, and when there are multiple experts …