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Persistent link: https://www.econbiz.de/10012547195
I construct a dynamic model in which an ambiguity-averse principal chooses the agent to whom to delegate the decision among elites (i.e., experts) with uncertain biases and non-elites with no bias in each period. The focus is on the phenomenon that the principal distrusts elites and delegates...
Persistent link: https://www.econbiz.de/10012901500