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forming posteriors with one exception: when assessing the credibility of experts, they "double-dip" the data and use already …
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Following Garicano (2000), we consider groups whose members decide what knowledge to acquire and how to use this … knowledge in production. If efficient production requires common knowledge, all group members should become workers and acquire … common knowledge. But if efficient production requires diverse knowledge, one group member should become manager, acquire …
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