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Decision Making and Learning in a Globalizing World

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Listed:
  • Otto H. Swank
  • Bauke Visser

Abstract

Decision-makers can benefit from the experience of others with solutions to common problems. If a best practice exists, the challenge is to recognize it and to ensure its diffusion. Information about different solutions is often dispersed, and decision-makers may be reluctant to switch for reputational reasons. We study how (i) the assignment of decision rights (who decides on the solutions.implementation?) and (ii) globalization (who knows what about solutions adopted in other places?) in.uence both the quality of the information on locally adopted solutions that decision-makers exchange and the quality of the solutions that are actually being used next.

Suggested Citation

  • Otto H. Swank & Bauke Visser, 2009. "Decision Making and Learning in a Globalizing World," Economics Working Papers ECO2009/20, European University Institute.
  • Handle: RePEc:eui:euiwps:eco2009/20
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    References listed on IDEAS

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    Cited by:

    1. Otto H. Swank & Bauke Visser, 2015. "Learning from Others? Decision Rights, Strategic Communication, and Reputational Concerns," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 109-149, November.

    More about this item

    Keywords

    centralization; decentralization; learning; cheap talk; reputational concerns; globalization; health care consensus panels; EU Open Method of Coordination;

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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