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Strategic information acquisition and transmission
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Argenziano, Rossella, Severinov, Sergei and Squintani, Francesco (2016) Strategic information acquisition and transmission. American Economic Journal : Microeconomics, 8 (3). pp. 119-155. doi:10.1257/mic.20140135 ISSN 1945-7669.
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Official URL: http://dx.doi.org/10.1257/mic.20140135
Abstract
This paper explores the implications of costly information acquisition in a strategic communication setting. We show that equilibrium decisions based on a biased expert's advice may be more precise than when information is directly acquired by the decision maker, even if the expert is not more efficient than the decision maker at acquiring information. This result bears important implications for organization design. Communication by an expert to a decision maker may often outperform delegation of the decision-making authority to the expert, as well as centralization by the decision maker of both information acquisition and decision-making authority.
Item Type: | Journal Article | ||||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics |
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Divisions: | Faculty of Social Sciences > Economics | ||||||
Library of Congress Subject Headings (LCSH): | Information behavior -- Mathematical models, Decision making, Specialists, Executives | ||||||
Journal or Publication Title: | American Economic Journal : Microeconomics | ||||||
Publisher: | American Economic Association | ||||||
ISSN: | 1945-7669 | ||||||
Official Date: | August 2016 | ||||||
Dates: |
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Volume: | 8 | ||||||
Number: | 3 | ||||||
Page Range: | pp. 119-155 | ||||||
DOI: | 10.1257/mic.20140135 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
Date of first compliant deposit: | 15 August 2016 | ||||||
Date of first compliant Open Access: | 15 August 2016 |
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