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 … maker. We ask whether this situation is improved by having the decision maker consult a cabinet of (two) experts. We first …

his reputation for truthtelling, we show that the larger is the inequality, the less information can credibly be …

his reputation for truthtelling, we show that the larger is the inequality, the less information can credibly be …

Professional experts offer advice with the objective of appearing well informed. Their ability is evaluated on the …

If you want good forecasts for your industry, you should hire the best experts. Right? Well, maybe not. …

, stock analysts are paid large salaries to forecast the earnings of various companies, and political experts command large …

If you want good forecasts for your industry, you should hire the best experts. Right? Well, maybe not. Certainly … experts are in demand. Businessmen pay economists generously to tell them how the economy will change; brokerage firms give …

's messages. This confirms ``truth bias'' reported in communication theory in a one-shot, anonymous environment without nonverbal … under certain conditions. We claim that the theory for the evolution of language should address why truthful communication …

are not provided by the firm), such as tips, satisfaction from working well, or the desire to build reputation in order to …