Add to ORKGWe develop a reputational cheap talk model where the principal can cancel an action initially started on the advice of an expert if she gets an 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 want to appear smart and we nd that the possibility of canceling the action encourages less well informed experts to recommend it more often. We then show that gaining access to an interim news as well as improving the quality of an existing one can both reduce the principal's welfare. The model implies that delegating the decision rights to another person with dierent preferences can be used as a commitment device by the principal and might improve her ...
A decision maker is contemplating an action whose outcome is state dependent. She has a ‘prior’ over...
A decision maker is contemplating an action whose outcome is state dependent. She has a 'prior' over...
When hiring an adviser (he), a policy maker (she) often faces the problem that she has incomplete in...
We develop a reputational cheap talk model where the principal can cancel an action initially starte...
We develop a reputational cheap talk model where the principal might cancel an action initially reco...
We augment the standard career concerns model by introducing (i) an action that blocks the informati...
We augment the standard career concerns model by introducing (i) an action that blocks the informati...
We analyze a model of cheap talk in which an expert who faces a conflict of interest with a decision...
The final publication is available at http://link.springer.com/article/10.1007/s00182-016-0551-9
"The final authenticated version is available online at https://doi.org/10.1007/s00182-016-0551-9We ...
Professional experts offer advice with the objective of appearing well informed. Their ability is ev...
We analyze a model of cheap talk in which an expert that faces a conflict of interest with a decisio...
This paper examines reputation, the belief of a decision maker about types of advisors, in a two per...
We analyze a model of cheap talk in which an expert who faces a conflict of interest with a decision...
This paper examines reputation, the belief of a decision maker about types of advisors, in a two per...
A decision maker is contemplating an action whose outcome is state dependent. She has a ‘prior’ over...
A decision maker is contemplating an action whose outcome is state dependent. She has a 'prior' over...
When hiring an adviser (he), a policy maker (she) often faces the problem that she has incomplete in...
We develop a reputational cheap talk model where the principal can cancel an action initially starte...
We develop a reputational cheap talk model where the principal might cancel an action initially reco...
We augment the standard career concerns model by introducing (i) an action that blocks the informati...
We augment the standard career concerns model by introducing (i) an action that blocks the informati...
We analyze a model of cheap talk in which an expert who faces a conflict of interest with a decision...
The final publication is available at http://link.springer.com/article/10.1007/s00182-016-0551-9
"The final authenticated version is available online at https://doi.org/10.1007/s00182-016-0551-9We ...
Professional experts offer advice with the objective of appearing well informed. Their ability is ev...
We analyze a model of cheap talk in which an expert that faces a conflict of interest with a decisio...
This paper examines reputation, the belief of a decision maker about types of advisors, in a two per...
We analyze a model of cheap talk in which an expert who faces a conflict of interest with a decision...
This paper examines reputation, the belief of a decision maker about types of advisors, in a two per...
A decision maker is contemplating an action whose outcome is state dependent. She has a ‘prior’ over...
A decision maker is contemplating an action whose outcome is state dependent. She has a 'prior' over...
When hiring an adviser (he), a policy maker (she) often faces the problem that she has incomplete in...