This paper studies optimal decision rules for a decision maker who can consult two experts in an environment without …-of-equilibrium pair of recommendations by the experts are punished with an action that is independent of their reports. A particular … property of an optimal decision rule is that it is simple and constant for a large set of experts' preferences and distribution …

This paper studies optimal decision rules for a decision maker who can consult two experts in an environment without … out-of-equilibrium pair of recommendations by the experts are punished with an action that is independent of their reports …. A particular property of an optimal decision rule is that it is simple and constant for a large set of experts …

of the signals (whose release she controls) on the client’s profit estimate. -- Mechanism design ; information disclosure …

information transmission is possible with unmediated communication. -- Communication ; Information ; Cheap talk ; Mediation …

information transmission is possible with unmediated communication. -- Communication ; Information ; Cheap talk ; Mediation …

A partially informed expert, A, strategically transmits information to a principal, P. The residual uncertainty faced … exposure to risks due to A's biased decisions. Better information transmission and the associated insurance benefit thus often … imply P preferring control over delegation, despite A having superior information.Some of our conclusions require showing …

, higher levels of reputation exacerbate the incentives of biased experts to misreport their private information. Decision … concerned about establishing a reputation for having accurate information. In this environment, the incentive of the expert to … establish a reputation for competence has a non-monotonic effect on the degree of information revelation. An increase in …

. Consumers are made worse off endogenously when selling reports calls for experts to shuffle more often. With limited field data …

information transmission is possible with unmediated communication …

A decision-maker solicits information from two partially informed experts and then makes a choice under uncertainty … information. I investigate the incentives of the experts to share their private information with the decision-maker and analyze …. The experts can be either moderately or extremely biased relative to the decision-maker, which is their private …