In a pandemic, citizens and policy makers must rely on expert opinion. What are the institutional arrangements that allow for the best advice to come forward? Using the framework established by Koppl (2018) on expert failure, we analyze the COVID-19 pandemic to see where missteps in expertise...

In almost every corner of our private and public lives we rely on experts to advise us. This important species of labor is getting increasing attention from economists, who are beginning to learn how to apply their tools and assumptions to the problem of expertise. Under what conditions of...

Under what conditions of supply and demand are experts likely to give us good advice? When is expert failure more likely? Do entrepreneurs challenge existing expertise? Are they experts themselves? This title brings a heterogeneous collection of thinkers, some "Austrian" and to engage the...

The humble idea that experts are ordinary human beings leads to surprising conclusions about how to get the best possible expert advice. All too often, experts have monopoly power because of licensing restrictions or because they are government bureaucrats protected from both competition and the...

Experts respond to the same incentives as people in other areas of human action, and in the same ways. This insight is a truism: Experts are ordinary people, not otherworld creatures. The disciplined pursuit of this common sense observation helps us to reach conclusions about experts that might...