An agent searches sequentially for advice from multiple experts concerning the payoff of taking an operation. After … infinitely many experts, each has access to an identically and conditionally independent signal structure about the payoff, and … each makes a recommendation after observing the signal realization. We find that the experts face a loser's curse, which …

We study the design of contracts that incentivize experts to collect information and truthfully report it to a decision … on the ex post payoff of the decision maker. The contract thus has to induce the experts to "monitor each other" by …