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|
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References listed on IDEAS
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.:
- Paul R. Milgrom, 1981.
"Good News and Bad News: Representation Theorems and Applications,"
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- Emir Kamenica & Matthew Gentzkow, 2009.
NajEcon Working Paper Reviews
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"Choosing Fair Lotteries to Defeat the Competition,"
10375, University Library of Munich, Germany.
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"Opinions as Incentives,"
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"Relying on the Information of Interested Parties,"
RAND Journal of Economics,
The RAND Corporation, vol. 17(1), pages 18-32, Spring.
- Emeric Henry, 2009.
"Disclosure of research results: the cost of proving your honesty,"
- Emeric Henry, 2009. "Disclosure of research results: the cost of proving your honesty," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
- repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09iatr74eao is not listed on IDEAS
- Bull, Jesse & Watson, Joel, 2000.
"Evidence Disclosure and Verifiability,"
University of California at San Diego, Economics Working Paper Series
qt6th0060j, Department of Economics, UC San Diego.
- 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.
- Matthew Gentzkow & Emir Kamenica, 2011. "Competition in Persuasion," NBER Working Papers 17436, National Bureau of Economic Research, Inc.
- Christopher Cotton, 2008.
"Should We Tax or Cap Political Contributions? A Lobbying Model with Policy Favors and Access,"
0901, University of Miami, Department of Economics.
- Cotton, Christopher, 2009. "Should we tax or cap political contributions? A lobbying model with policy favors and access," Journal of Public Economics, Elsevier, vol. 93(7-8), pages 831-842, August.
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