a decision maker can obtain, pay attention to, or absorb, via a Markov Decision Process for Information Choice (MIC). An … MIC is a subjective decision process that specifies what type of information about the payoff-relevant state is feasible …

This paper is concerned with the role of committees in collective decision-makingprocesses in a world where agents must … be motivated to collect information. Committees improvethe quality of decision-making by providing information and by … preferences of the committeemembers should be aligned to those of the decision maker. Members with similar preferences asthe …

from subjects that were previously affected by an allocation decision. We find that most decision makers exhibit a positive … willingness-to-pay for having control about whether feedback occurs or not. Specifically, decision makers that equally shared … contrast, among decision makers that behaved selfishly, we identify both: subjects that were willing to pay for receiving and …

Existing theoretical and experimental studies have established that unanimity is a poor decision rule for promoting … responsibility for the committee's decision is equally distributed across all agents. We test our predictions in a controlled … are ultimately more likely to make the optimal decision. Idiosyncratic payoffs such as a moral bias thus present a …

We study a model of collective decision making with endogenous information collection.Agents collect information about … decision is made. The reason for this result is that communicationmay aggravate the free-rider problem associated with …