Mylovanov, Tymofiy; Zapechelnyuk, Andriy - School of Economics and Finance, Queen Mary - 2010
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 …