The survey is focused on the typical problems in information transmission from experts to non-experts. Attention is paid to the factors that can affect information disclosure in models that apply a game-theoretic approach to the use of professional advice. In the economic literature expertise is mainly analyzed as a special case of asymmetric information between expert and non-expert. The contributions are reviewed according to a double criterion, that takes into account both the preferences of the experts and the properties of communication. On one side, either the non-expert plays the role of a decision-maker, who chooses an action that is payoff-relevant for the expert, or the preferences of the expert directly depend on some measure of his reputation as a high-ability forecaster. On the other side, communication can range from pure cheap talk to completely verifiable messages. © 2013 Springer-Verlag Berlin Heidelberg.

Valsecchi, I. (2013). The expert Problem: a Survey. ECONOMICS OF GOVERNANCE, 14, 303-331 [10.1007/s10101-013-0129-y].

The expert Problem: a Survey

VALSECCHI, IRENE ARMIDA
2013

Abstract

The survey is focused on the typical problems in information transmission from experts to non-experts. Attention is paid to the factors that can affect information disclosure in models that apply a game-theoretic approach to the use of professional advice. In the economic literature expertise is mainly analyzed as a special case of asymmetric information between expert and non-expert. The contributions are reviewed according to a double criterion, that takes into account both the preferences of the experts and the properties of communication. On one side, either the non-expert plays the role of a decision-maker, who chooses an action that is payoff-relevant for the expert, or the preferences of the expert directly depend on some measure of his reputation as a high-ability forecaster. On the other side, communication can range from pure cheap talk to completely verifiable messages. © 2013 Springer-Verlag Berlin Heidelberg.
No
Articolo in rivista - Articolo scientifico
Scientifica
expert, strategic information transmission
English
303
331
29
Valsecchi, I. (2013). The expert Problem: a Survey. ECONOMICS OF GOVERNANCE, 14, 303-331 [10.1007/s10101-013-0129-y].
Valsecchi, I
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10281/47690
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