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We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information … confirm the predicted trade-off, despite some deviations from theory on the individual level. …
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Collective action is a dynamic process where individuals in a group assess over time the benefits and costs of participating toward the success of a collective goal. Early participation improves the expectation of success and thus stimulates the subsequent participation of other individuals who...
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We model competing groups when players' values for winning are private information, each group's performance equals the best effort ("best shot") of its members, and the group with the best performance wins the contest. At the symmetric equilibrium of symmetric contests, increasing the number of...
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In this paper I described group theoretic methods that can be used for analyzing the boundary problems, which arise when the Hamiltonian method is applied to solve the relaxed problem for the multidimensional screening problem. This technique can provide some useful insights into the structure...
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