Eliciting information from multiple experts
AbstractA decision maker has to elicit information from informed experts regarding the desirability of a certain action from experts who share similar preferences which differ significantly from those of the decision maker. The question is how much information the decision maker can elicit, despite the difference in interests. The focus here is on ways in which the decision maker can take advantage of the multiplicity of experts. if the decision maker cannot commit to a mechanism and there is no communication among the experts, then no useful information is elicited from the experts in the equilibrium. If the experts can be partitioned into groups such that the members of each group can communicate with each other before they report their information to the decision maker, then more information can be elicited. Obviously, if all experts are allowed to communicate, they can be induced to reveal the relevant information, at least, when their aggregate information makes it desirable for them to undertake the project. The more interesting observation is that, if communication among the experts can be restricted to certain subsets, then even more information can be elicited. Finally, if the decision maker can commit to a mechanism, the information elicited in some cases is sufficient to implement the decision maker's best outcome in all but one state. All these observation make straightforward use of the idea that experts choose their report with the understanding that it matters only when they are pivotal.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 41 (2002)
Issue (Month): 1 (October)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622836
Other versions of this item:
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.:
- Vijay Krishna & John Morgan, 2001.
"A Model Of Expertise,"
The Quarterly Journal of Economics,
MIT Press, vol. 116(2), pages 747-775, May.
- Krishna, V. & Morgan, J., 1999. "A Model of Expertise," Papers 206, Princeton, Woodrow Wilson School - Public and International Affairs.
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Game Theory and Information 9902003, EconWPA.
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Working Papers dp206.pdf, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics..
- V. Crawford & J. Sobel, 2010.
"Strategic Information Transmission,"
Levine's Working Paper Archive
544, David K. Levine.
- Timothy Feddersen & Wolfgang Pesendorfer, 1996. "Convicting the Innocent: The Inferiority of Unanimous Jury Verdicts," Discussion Papers 1170, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Helmut Bester & Roland Strausz, . "Imperfect Commitment and the Revelation Principle," Papers 004, Departmental Working Papers.
- Marco Battaglini, 1999.
"Multiple Referrals and Multidimensional Cheap Talk,"
1295, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Marco Battaglini, 2002. "Multiple Referrals and Multidimensional Cheap Talk," Econometrica, Econometric Society, vol. 70(4), pages 1379-1401, July.
- Marco Battaglini, 2000. "Multiple Referrals and Multidimensional Cheap Talk," Econometric Society World Congress 2000 Contributed Papers 1557, Econometric Society.
- Forges, Francoise, 1990.
Econometric Society, vol. 58(6), pages 1341-64, November.
- Bester, Helmut & Strausz, Roland, 2001. "Contracting with Imperfect Commitment and the Revelation Principle: The Single Agent Case," Econometrica, Econometric Society, vol. 69(4), pages 1077-98, July.
- Levy, Gilat & Razin, Ronny, 2004.
"Multidimensional Cheap Talk,"
CEPR Discussion Papers
4393, C.E.P.R. Discussion Papers.
- Dezsö Szalay & Ramon Arean, 2005. "Communicating with a Team of Experts," Cahiers de Recherches Economiques du DÃ©partement d'EconomÃ©trie et d'Economie politique (DEEP) 05.12, Université de Lausanne, Faculté des HEC, DEEP.
- Kohei Kawamura, 2006. "Anonymity, Equal Treatment, and Overconfidence: Constraints on Communication May Enhance Information Transmission," Economics Series Working Papers 268, University of Oxford, Department of Economics.
- Dino Gerardi & Richard McLean & Andrew Postlewaite, 2005.
"Aggregation of Expert Opinions,"
PIER Working Paper Archive
05-016, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Paolo Balduzzi & Clara Graziano & Annalisa Luporini, 2011.
"Voting in Small Committees,"
Working Papers Series
wp2011_01.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze dell'Economia e Dell'Impresa.
- Amorós, Pablo, 2009.
"Eliciting socially optimal rankings from unfair jurors,"
Journal of Economic Theory,
Elsevier, vol. 144(3), pages 1211-1226, May.
- Pablo Amorós, 2006. "Eliciting Socially Optimal Rankings from Unfair Jurors," Economic Working Papers at Centro de Estudios Andaluces E2006/10, Centro de Estudios Andaluces.
- Inga Deimen & Felix Ketelaar & Mark T. Le Quement, 2013. "Consistency and Communication in Committees," Bonn Econ Discussion Papers bgse02_2013, University of Bonn, Germany.
- Tymofiy Mylovanov & Andriy Zapechelnyuk, 2010. "Decision Rules for Experts with Opposing Interests," Working Papers 674, Queen Mary, University of London, School of Economics and Finance.
- Kohei Kawamura, 2007. "Constrained Communication with Multiple Agents: Anonymity, Equal Treatment, and Public Good Provision," ESE Discussion Papers 166, Edinburgh School of Economics, University of Edinburgh.
- Andriy Zapechelnyuk, 2012. "Eliciting Information from a Committee," Working Papers 692, Queen Mary, University of London, School of Economics and Finance.
- Lanzi, Thomas & Mathis, Jérôme, 2008.
"Consulting an Expert with Potentially Conflicting Preferences,"
Open Access publications from University of Toulouse 1 Capitole
http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
- Thomas Lanzi & Jerome Mathis, 2008. "Consulting an Expert with Potentially Conflicting Preferences," Theory and Decision, Springer, vol. 65(3), pages 185-204, November.
- T. Lanzi & J. Mathis, 2005. "Consulting an expert with potentially conflicting preferences," THEMA Working Papers 2005-07, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Andrea Galeotti & Christian Ghiglino & Francesco Squintani, 2009. "Strategic Information Transmission in Networks," Economics Discussion Papers 668, University of Essex, Department of Economics.
- Elisabeth Schulte, 2012. "Communication in committees: who should listen?," Public Choice, Springer, vol. 150(1), pages 97-117, January.
- Martimort, David & Semenov, Aggey, 2008.
"The informational effects of competition and collusion in legislative politics,"
Journal of Public Economics,
Elsevier, vol. 92(7), pages 1541-1563, July.
- Martimort, David & Semenov, Aggey, 2008. "The Informational Effects of Competition and Collusion in Legislative Politics," MPRA Paper 6989, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If references are entirely missing, you can add them using this form.