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The paper is concerned with the interaction between two agents: an expert, announcing his probability that a particular state of the world will occur, and a non-expert decision-maker, who takes action according to his posterior beliefs. The decision-maker considers the expert an experiment of...
Persistent link: https://www.econbiz.de/10005230933
Two agents are engaged in a joint activity that yields a common perperiod payoff at two rounds of play. The expert announces the probability that the current state of the world is low, instead of high, at each stage. Having received the report of the expert, the decision-maker takes action at...
Persistent link: https://www.econbiz.de/10008828403
The survey is concerned with the issue of information transmission from experts to non-experts. Two main approaches to the use of experts can be traced. According to the game-theoretic approach expertise is a case of asymmetric information between the expert, who is the better informed agent,...
Persistent link: https://www.econbiz.de/10005423114
The paper is concerned with instructions as a way of setting premises for subsequent decisions in models of teams à la Marschak-Radner, under information diversification. The paper suggests that instructions can bridge people’s differences in knowledge: they do not require mutual...
Persistent link: https://www.econbiz.de/10005570323
The paper is concerned with the interaction between two agents: an expert, announcing his probability that a particular state of the world will occur, and a non-expert decision-maker, who takes action according to his posterior beliefs. The decision-maker considers the expert an experiment of...
Persistent link: https://www.econbiz.de/10010312646
The paper is concerned with instructions as a way of setting premises for subsequent decisions in models of teams à la Marschak-Radner, under information diversification. The paper suggests that instructions can bridge people's differences in knowledge: they do not require mutual understanding...
Persistent link: https://www.econbiz.de/10010312657
Persistent link: https://www.econbiz.de/10007680880
Persistent link: https://www.econbiz.de/10007656594
Persistent link: https://www.econbiz.de/10007686297
For strategic communication games à la Crawford and Sobel (Econometrica 50:1431–1451, <CitationRef CitationID="CR3">1982</CitationRef>) the paper shows that under some prior beliefs different equilibrium partitions of the state space can have equal cardinality. Hence, there can be different equilibrium action profiles with the same...</citationref>
Persistent link: https://www.econbiz.de/10010988736