A new Information Aggregation Mechanism (IAM), developed via laboratory experimental methods, is implemented inside … to collect and quantize as probability distributions dispersed, subjectively held information. IAM participants …' incentives support timely information revelation and the emergence of consensus beliefs over future outcomes. Empirical tests …

I examine the effect of strategic competition on management sales forecast bias. Strategic complement firms react to a … rival’s action by moving in the same direction (e.g., increasing their own sales in response to a rival’s sales increase … firms will issue pessimistic sales forecasts (i.e., behave less aggressively) and strategic substitute firms will issue …