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market for experts. The information the expert reveals decreases as his bias moves toward stronger preference for the status …We analyze situations in which an expert is biased toward some decision but cares also about his reputation in the …, revealing the intensity of the expert's bias doesn't always improve the information he reveals in equilibrium. The presence of a …
Persistent link: https://www.econbiz.de/10009368142
By bundling experience goods, a manufacturer can more easily maintain a reputation for high quality over time. Formally …
Persistent link: https://www.econbiz.de/10014203562
Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate experimentally which factors could improve advice quality. Besides advisor...
Persistent link: https://www.econbiz.de/10011530053
of privately known competence, who cares about his reputation, chooses the timing of the forecast regarding the outcome …. Further, any report hurts the forecaster’s reputation in the short run, with later reports incurring larger penalties. The … reputation of a silent forecaster, on the other hand, gradually improves over time. …
Persistent link: https://www.econbiz.de/10012123351
Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate experimentally which factors could improve advice quality. Besides advisor...
Persistent link: https://www.econbiz.de/10011697162
make a voluntary payment, a bonus, after observing advice quality. While the combination of competition and reputation …. Thus, our results suggest that a voluntary component can act as a substitute for either competition or reputation …
Persistent link: https://www.econbiz.de/10011881706
We analyze how financial experts influence asset prices in a sequential trading model. In the model, an expert of … information about the expert's ability is private to traders and only revealed through trades. When the expert's reputation is …
Persistent link: https://www.econbiz.de/10011110283
We study the effects of preselection on an expert's incentive to give truthful advice in a decision environment in which certain decisions yield more precise estimates about the expert's expertise. The introduction of a preselection stage, in which the decision maker can study the case before...
Persistent link: https://www.econbiz.de/10011302441
An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...
Persistent link: https://www.econbiz.de/10012117630
of the project, and hold additional private information about its consequences. They are experts who care about the value …
Persistent link: https://www.econbiz.de/10011343285