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We analyze the (Perfect Bayesian) equilibrium in an observational learning model with communication and bilateral incentive contracts when pairs of agents sequentially make decisions based on internal communications and the observed history of decisions by other groups. One of the agents in each...
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group of people who make a decision by voting on a proposal. An outside expert who observes the qualities of a proposal … sends a cheap talk message to decision makers with limited information. A simple cheap talk strategy of the expert can be … surprisingly effective in persuading decision makers by polarizing or unifying their opinions. When there is a significant …
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We develop a model of strategic information transmission from an expert with informational superiority to decision … persuading decision makers by polarizing or unifying their opinions. After observing the expert's cheap talk message, decision … her own bias. In other words, the expert's cheap talk prevents a voting procedure from aggregating decision makers …
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