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Producing and Manipulating Information

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Author Info
Robert Dur
Otto H. Swank

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Abstract

This paper studies the selection of information collecting agents by policy makers in the light of two agency problems. First, it is often hard to ascertain how much effort agents have put in acquiring information. Second, when agents have an interest in the policy outcome, they may manipulate information. We show that unbiased advisers put highest effort in collecting information. Eliminating manipulation of information, however, requires that the preferences of the policy maker and the adviser be aligned. Therefore, policy makers appoint advisers with preferences that are less extreme than their own. Copyright 2005 Royal Economic Society.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2004.00965.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 115 (2005)
Issue (Month): 500 (01)
Pages: 185-199
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Handle: RePEc:ecj:econjl:v:115:y:2005:i:500:p:185-199

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September. [Downloadable!] (restricted)
  2. Gilligan, Thomas W & Krehbiel, Keith, 1987. "Collective Decisionmaking and Standing Committees: An Informational Rationale for Restrictive Amendment Procedures," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 287-335, Fall.
  3. Gilligan, Thomas W & Krehbiel, Keith, 1997. "Specialization Decisions within Committee," Journal of Law, Economics and Organization, Oxford University Press, vol. 13(2), pages 366-86, October.
  4. Potters, Jan & van Winden, Frans, 1992. " Lobbying and Asymmetric Information," Public Choice, Springer, vol. 74(3), pages 269-92, October.
  5. AGHION, Philippe & TIROLE, Jean, 1994. "Formal and Real Authority in Organizations," IDEI Working Papers 37, Institut d'Économie Industrielle (IDEI), Toulouse.
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  6. Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring. [Downloadable!] (restricted)
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  7. Vijay Krishna & John Morgan, 2001. "A Model Of Expertise," The Quarterly Journal of Economics, MIT Press, vol. 116(2), pages 747-775, May. [Downloadable!] (restricted)
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  8. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November. [Downloadable!] (restricted)
  9. Austen-Smith David, 1993. "Interested Experts and Policy Advice: Multiple Referrals under Open Rule," Games and Economic Behavior, Elsevier, vol. 5(1), pages 3-43, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Silvia Dominguez Martinez & Otto H. Swank, 2004. "Polarization, Information Collection and Electoral Control," Tinbergen Institute Discussion Papers 04-035/1, Tinbergen Institute. [Downloadable!]
    Other versions:
  2. GROMB, Denis & MARTIMORT, David, 2004. "The Organization of Delegated Expertise," IDEI Working Papers 284, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
  3. Phongthorn Wrasai & Otto H. Swank, 2004. "Policy Makers, Advisors, and Reputation," Tinbergen Institute Discussion Papers 04-037/1, Tinbergen Institute, revised 09 Dec 2004. [Downloadable!]
    Other versions:
  4. Priyodorshi Banerjee, 2007. "Collective Punishments: Incentives and Examinations in Organisations," Contributions to Theoretical Economics, Berkeley Electronic Press, vol. 7(1), pages 1388-1388. [Downloadable!] (restricted)
  5. John M. de Figueiredo & Charles M. Cameron, 2006. "Endogenous Cost Lobbying: Theory and Evidence," Hi-Stat Discussion Paper Series d05-156, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
  6. Priyodorshi Banerjee, 2008. "Conflict and Consensus: A Theory of Control in Organisations," Topics in Theoretical Economics, Berkeley Electronic Press, vol. 8(1), pages 1421-1421. [Downloadable!] (restricted)
  7. Klaas J. Beniers & Otto H. Swank, 2003. "On the Composition of Committees," Tinbergen Institute Discussion Papers 03-006/1, Tinbergen Institute. [Downloadable!]
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