We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually …. Hence, the experts either acquire the same or a larger amount of information, depending on the cost of information, than in …

When groups face difficult problems, the voice of experts may be lost in the noise of others' contributions. We present … such a degree that it is in fact optimal for all non-experts to contribute their bits of information. A single individual …

Story telling is part of life, and the retelling of stories is an important form of communication, cultural practice …

opportunistic behavior with multiple realizations. The consequent reputation concerns dramatically reduce cheating by large amounts …

as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …

networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network … structure. We examine how pre-play communication and clustering within networks affect coordination in a challenging … outcome in our game, but restricted communication (where subjects can only indicate their intended action) is almost entirely …

young children fail to anticipate the benefits of reputation building. We also show that the cognitive skills of children …