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Persistent link: https://www.econbiz.de/10000760509
payoffs and about his reputation for expertise. The state remains unobserved, even after the decision has been taken. In such … inconclusive environments, in equilibrium, a member's internal (peer) reputation is based on deliberation patterns, while member …'s external (market) reputation is based on the observed group decision. Either form of reputation concerns create strategic …
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A physician performs two tasks: making diagnoses and determining treatments. To reduce medical error, residents are supposed to consult their supervisors when they face uncommon circumstances. However, recent research shows that residents are reluctant to do so. This paper presents a model that...
Persistent link: https://www.econbiz.de/10011378360
motivate employeeswho are driven by concerns about their reputation for being able. When employeesare driven by monetary …
Persistent link: https://www.econbiz.de/10010325976
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motivate employeeswho are driven by concerns about their reputation for being able. When employeesare driven by monetary …
Persistent link: https://www.econbiz.de/10011382589
In models of sequential decision making herd behaviour occurs if the signals smart(dumb) agents receive are (un)correlated and if agents have reputational concerns. We show thatintroducing costly effort to become informed about project payoffs (i) eliminates herdbehaviour and (ii) shifts...
Persistent link: https://www.econbiz.de/10010324777
Can vanity do any good? It may seem obvious to answer this question in the negative, as economists have shown how reputational concerns lead agents e.g. to ignore valuable information, to herd, and to become overly risk averse. We explore how proud agents may be a social blessing. An agent may...
Persistent link: https://www.econbiz.de/10010324778
A committee makes a decision on a project on behalf of the public. Members of the committee agree on the a priori value of the project, and hold additional private information about its consequences. They are experts who care about the value of the project and about being considered well...
Persistent link: https://www.econbiz.de/10010325304