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 …

) 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 …

assessments. We investigate this theory in the lab, using treatments with and without reputation concerns and with and without … cheap-talk communication with evaluators. We use the chat among committee members to learn about, e.g., their beliefs about … their assessments less dependent on actual decisions and statements. With or without reputation concerns, for the majority …

other hand the decision makers rely too much on the received information. Moreover, communication as well as payoffs … communication is less biased. In all treatments, however, the messages are more precise than theoretically predicted. …