Liu, Yaozhou Franklin; Sanyal, Amal - In: Journal of Economic Behavior & Organization 84 (2012) 1, pp. 1-16
We develop a reputational cheap talk model where the principal can cancel an action initially started on the advice of an expert if she gets some unfavorable interim news. But if the status quo is reinstated, the principal is unable to verify the true state of the world. In the model, experts...