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Pandering to the Future

Author

Listed:
  • Benjamin Blumenthal

Abstract

I study a model of delegated experimentation in which actions signal agents’ underlying type—careerist or partisan. I show that careerist agents pander to the future by choosing the action mostlikely to be preferred ex post by the principal. I discuss when and why this behaviour differsfrom selecting the principal’s ex ante preferred action, which balances static and dynamic learningbenefits. I conclude my analysis by considering implications for agents’ responsiveness to changesin actions’ popularity, for the benefits and costs of transparency, and for the role of partisanshipstructures.

Suggested Citation

  • Benjamin Blumenthal, 2026. "Pandering to the Future," Working Papers ECARES 2026-18, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:eca:wpaper:2013/407815
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    More about this item

    Keywords

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    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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