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Communicating with a Team of Experts

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  • Dezsö Szalay
  • Ramon Arean

Abstract

This paper combines theories of communication with theories of expertise and teams. Facing a team of experts, who must be given incentives to acquire information and to communicate it truthfully, how can and how should the leader communicate with the team members ? We characterize all the possibilities of using the information generated efficiently, and provide a complete welfare ranking of all equilibria. The welfare ranking is shown to depend one for one on the structure of the cost of information acquisition. We discuss applications to task assignment, and to noisy and costly communication.

Suggested Citation

  • Dezsö Szalay & Ramon Arean, 2005. "Communicating with a Team of Experts," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 05.12, Université de Lausanne, Faculté des HEC, DEEP.
  • Handle: RePEc:lau:crdeep:05.12
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    References listed on IDEAS

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    1. Battaglini Marco, 2004. "Policy Advice with Imperfectly Informed Experts," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 4(1), pages 1-34, April.
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    3. Gromb, Denis & Martimort, David, 2004. "The Organization of Delegated Expertise," IDEI Working Papers 284, Institut d'Économie Industrielle (IDEI), Toulouse.
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    5. Bauke Visser & Otto H. Swank, 2007. "On Committees of Experts," The Quarterly Journal of Economics, Oxford University Press, vol. 122(1), pages 337-372.
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    7. Martinelli, Cesar, 2006. "Would rational voters acquire costly information?," Journal of Economic Theory, Elsevier, vol. 129(1), pages 225-251, July.
    8. Kaushik Mukhopadhaya, 2003. "Jury Size and the Free Rider Problem," Journal of Law, Economics, and Organization, Oxford University Press, vol. 19(1), pages 24-44, April.
    9. Gerardi, Dino & Yariv, Leeat, 2008. "Information acquisition in committees," Games and Economic Behavior, Elsevier, vol. 62(2), pages 436-459, March.
    10. Wolinsky, Asher, 2002. "Eliciting information from multiple experts," Games and Economic Behavior, Elsevier, vol. 41(1), pages 141-160, October.
    11. Gerardi, Dino & McLean, Richard & Postlewaite, Andrew, 2009. "Aggregation of expert opinions," Games and Economic Behavior, Elsevier, vol. 65(2), pages 339-371, March.
    12. Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Oxford University Press, vol. 71(1), pages 165-191.
    13. Dezsö Szalay, 2005. "The Economics of Clear Advice and Extreme Options," Review of Economic Studies, Oxford University Press, vol. 72(4), pages 1173-1198.
    14. Hao Li & Sherwin Rosen & Wing Suen, 2001. "Conflicts and Common Interests in Committees," American Economic Review, American Economic Association, vol. 91(5), pages 1478-1497, December.
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    20. Doraszelski Ulrich & Gerardi Dino & Squintani Francesco, 2003. "Communication and Voting with Double-Sided Information," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 3(1), pages 1-41, August.
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    Citations

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    Cited by:

    1. Flavia Roldán, 2013. "The organization of expertise in the presence of communication," Review of Economic Design, Springer;Society for Economic Design, pages 63-81.
    2. Szalay, Dezsö, 2012. "Strategic information transmission and stochastic orders," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 386, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.

    More about this item

    Keywords

    information acquisition; communication; cheap talk; multiple agents; expertise;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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