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incumbent; with higher stakes, the incumbent puts more emphasis on loyalty than competence. Our theory sheds light on the …
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We investigate information aggregation and competition in a delegationframework. An uninformed principal is unable to perform a task herself andmust choose between one of two biased and imperfectly informed experts. Inthe focal equilibrium, experts exaggerate their biases, anticipating...
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zwischen Theorie und Empirie wirtschaftswissenschaftlicher Forschungsarbeit. Forschung, so sein Fazit, ist unabdingbar für …
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