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 … aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually …

paper investigates how these findings translate to experts' decision making and information acquisition in the field. In a …Laboratory experiments find a robust relationship between decision times and perceived values of alternatives. This … be chosen later than earlier; (ii) decision time is higher when the likelihood of choosing each alternative is closer to …

Complex and important policy decisions are often made with advice from a committee of experts, where experts first … convene and discuss, before finalizing their collective decision with a vote. We show that the voting structure (whether the … experts vote sequentially or simultaneously) plays a fundamental role in the nature of discussions, the independence of votes …

same public information and similar evaluation methods, and because of social learning or herding amongst peers. We analyse … problem and to quantitatively assess answers regarding the initial questions. We find strong evidence for herding in … from experts external to the survey. The social multiplier approximately doubles the effect of information (signals …