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This paper studies whether dissemination of private, pre-decision signals about productivity is valuable to the principal when agents work sequentially and observe each other’s effort. The benefit of dissemination is that when productivity states are correlated, each agent’s signal is useful...
Persistent link: https://www.econbiz.de/10014042884
) private information with sequential, two-way communication. In the first stage, the buyer communicates her private preferences …
Persistent link: https://www.econbiz.de/10014479178
) equilibrium. Fully informative myopic and farsighted equilibria essentially take a particular simple form: all communication is … and analyze equilibrium welfare. Furthermore, we extend our model to public communication and investigate the implications …
Persistent link: https://www.econbiz.de/10012020319
Generally, Democrats do not increase military spending, and Republicans do not raise welfare payments. Mostly, ruling politicians stick to the manifesto of their party. The current paper provides a theoretical explanation for this phenomenon that does not assume politicians or voters to be...
Persistent link: https://www.econbiz.de/10003633611
This paper analyzes an election game where self-interested politicians can exploit the lack of information that voters have about candidates' preferred policies in order to pursue their own agendas. In such a setup, we study the incentives of newspapers to acquire costly information, and how...
Persistent link: https://www.econbiz.de/10014224324
This paper studies information transmission in a two-sender, multidimensional cheap talk setting where there are exogenous constraints on the (convex) feasible set of policies for the receiver and where the receiver is uncertain about both the directions and the magnitudes of the senders' bias...
Persistent link: https://www.econbiz.de/10012158784
When groups face difficult problems, the voice of experts may be lost in the noise of others' contributions. We present results from a 'naturally noisy' setting, a large first-year undergraduate class, in which the 'expert's voice is lost' to such a degree that it is in fact optimal for all...
Persistent link: https://www.econbiz.de/10012257743
When groups face difficult problems, the voices of experts may be lost in the noise of others' contributions. We present results from a "naturally noisy" setting, a large first-year undergraduate class, in which the expert's voice was "lost" to such a degree that bringing forward even more...
Persistent link: https://www.econbiz.de/10012432144
We present a model of elections in which interest group donations allow candidates to shift policy positions. We show that if donations were prohibited, then a unique equilibrium regarding the position choices of candidates would exist. With unrestricted financing of political campaigns two...
Persistent link: https://www.econbiz.de/10013127785
We study experimentally the effectiveness of communication in common value committees exhibiting publicly known … heterogeneous agents. These predict varying degrees of strategic communication. We use a 2 x 2 design varying the information … protocol (communication vs exogenous public signals) and the group composition (heterogeneous vs homogeneous). Results are only …
Persistent link: https://www.econbiz.de/10012995161