We study how experts influence consumer behavior and welfare by focusing on the Booker Prize. Leveraging the …

We provide evidence for an expectation gap, where risk-averse as well as impatient households and experts provide …

Decision makers lacking crucial specialist know-how often consult with better informed but biased experts. In our model …, and to situations with multiple experts and uncertainty about the size of the expert's bias. …

We introduce the notion of verifiable information into a model of sequential debate among experts who are motivated by … career concerns. We show that self-censorship may hamper the efficiency of information aggregation, as experts withhold … phenomenon, and the probability of the correct state of the world being revealed always converges to one as the group of experts …