Showing 81 - 90 of 2,655
An agent searches sequentially for advice from multiple experts concerning the payoff of taking an operation. After incurring a positive search cost, the agent can consult an expert, whose interest is partially aligned with him. There are infinitely many experts, each has access to an...
Persistent link: https://www.econbiz.de/10012104605
This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and,...
Persistent link: https://www.econbiz.de/10011621465
We introduce the notion of verifiable information into a model of sequential debate among experts who are motivated by career concerns. We show that self-censorship may hamper the efficiency of information aggregation, as experts withhold evidence contradicting the conventional wisdom. In this...
Persistent link: https://www.econbiz.de/10011753200
We consider a general economy, where agents have private information about their types. Types can be multi-dimensional and potentially interdependent. We show that, if the interim distribution of types is common knowledge (the exact number of agents for each type is known), then a mechanism...
Persistent link: https://www.econbiz.de/10010345986
We introduce the notion of verifiable information into a model of sequential debate among experts who are motivated by career concerns. We show that self-censorship may hamper the efficiency of information aggregation, as experts withhold evidence contradicting the conventional wisdom. In this...
Persistent link: https://www.econbiz.de/10008748176
This paper studies a large majority election with voters who have heterogeneous, private preferences and exogenous private signals. We show that a Bayesian persuader can implement any state-contingent outcome in some equilibrium by providing additional information. In this setting, without the...
Persistent link: https://www.econbiz.de/10012614794
When groups face difficult problems, the voice of experts may be lost in the noise of others' contributions. We present results from a 'naturally noisy' setting, a large first-year undergraduate class, in which the 'expert's voice is lost' to such a degree that it is in fact optimal for all...
Persistent link: https://www.econbiz.de/10012257743
When groups face difficult problems, the voices of experts may be lost in the noise of others' contributions. We present results from a "naturally noisy" setting, a large first-year undergraduate class, in which the expert's voice was "lost" to such a degree that bringing forward even more...
Persistent link: https://www.econbiz.de/10012432144
The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …, partial, and no disclosure of bids, which correspond to standard auctions. We show that more information disclosure increases …
Persistent link: https://www.econbiz.de/10010378352
We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement …
Persistent link: https://www.econbiz.de/10010342227