Learning more by doing less
Self-interested agents (e.g., interest groups, researchers) produce verifiable evidence in an attempt to convince a principal (e.g., legislator, funding organization) to act on their behalf (e.g., introduce legislation, fund research). Agents provide less informative evidence than the principal prefers since doing so maximizes the probability the principal acts in their favor. If the principal faces budget or other constraints that limit the number of agents whose proposals she can support, then agents produce more-accurate evidence as they compete for priority. Under reasonable conditions, the principal is better off when her capacity to act is limited.
|Date of creation:||11 Oct 2011|
|Publication status:||Forthcoming: Under Review|
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More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Liad Wagman & Vincent Conitzer, 2012.
"Choosing fair lotteries to defeat the competition,"
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- Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring.
- Paul R. Milgrom & John Roberts, 1985. "Relying on the Information of Interested Parties," Cowles Foundation Discussion Papers 749, Cowles Foundation for Research in Economics, Yale University.
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- Paul R. Milgrom, 1979. "Good Nevs and Bad News: Representation Theorems and Applications," Discussion Papers 407R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Emeric Henry, 2009. "Disclosure of research results: the cost of proving your honesty," Post-Print hal-01023670, HAL.
- Emeric Henry, 2009. "Disclosure of research results: the cost of proving your honesty," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
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- Bull, Jesse & Watson, Joel, 2004. "Evidence disclosure and verifiability," Journal of Economic Theory, Elsevier, vol. 118(1), pages 1-31, September.
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- Bull, Jesse & Watson, Joel, 2002. "Evidence Disclosure and Verfiability," University of California at San Diego, Economics Working Paper Series qt19p7z2gm, Department of Economics, UC San Diego.
- repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09iatr74eao is not listed on IDEAS
- Matthew Gentzkow & Emir Kamenica, 2011. "Competition in Persuasion," NBER Working Papers 17436, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)