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A Model of Expertise

Author

Listed:
  • Krishna, V.
  • Morgan, J.

Abstract

We study a model in which two perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thusmay wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single expert, the expert withholds substantial information from the decision maker.

Suggested Citation

  • Krishna, V. & Morgan, J., 1999. "A Model of Expertise," Papers 206, Princeton, Woodrow Wilson School - Public and International Affairs.
    • Handle: RePEc:fth:priwpu:206
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    Keywords

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    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General

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