Communication and binary decisions : is it better to communicate ?
We study information transmission between an informed expert and an uninformed decision-maker when the decision is binary and the expert does not have a systematic bias. Whenever an equilibrium exists where the decision is delegated to the expert, it is ex ante Pareto-dominant. Adding a round of multilateral communication does not improve information transmission. The decision-maker can, however, improve information transmission by communicating sequentially with two experts. However, introducing multiple rounds of communication (i.e., allowing for rebuttal) does not help.
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|Date of creation:||01 Sep 2013|
|Publication status:||Published in Journal of Institutional and Theoretical Economics, Mohr Siebeck, 2013, 169 (3), pp 451-467. <10.1628/093245613X13621221166330>|
|Note:||View the original document on HAL open archive server: https://hal-enac.archives-ouvertes.fr/hal-00874852|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
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