Expert advice is often biased in ways that benefit the advisor. We demonstrate how self-deception helps advisors be … privately evaluating the investments. Consistent with self-deception, learning about the incentive before evaluating the options … affects advisors' beliefs and preferences over the investments. Biased advice persists with minimal justifications but is …

We study the interaction between algorithmic advice and human decisions using high-resolution hotel-room pricing data … interest with the algorithmic advisor. A model of advice with costly price adjustments shows that, in equilibrium, algorithmic …

same rules. This paper makes the case for embedded supervision, ie a regulatory framework that provides for compliance in … requirements that would promote low-cost supervision and a level playing field for small and large firms. …