Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

Implementing the “Wisdom of the Crowd”

Tools
- Tools
+ Tools

Kremer, Ilan, Mansour, Yishay and Perry, Motty (2014) Implementing the “Wisdom of the Crowd”. Journal of Political Economy, 122 (5). pp. 988-1012. doi:10.1086/676597

[img] PDF
WRAP_motty_perry_implementing_the_wisdom_of_the_crowd.pdf - Published Version - Requires a PDF viewer.

Download (894Kb)
Official URL: http://dx.doi.org/10.1086/676597

Request Changes to record.

Abstract

We study a novel mechanism design model in which agents each arrive sequentially and choose one action from a set of actions with unknown rewards. The information revealed by the principal affects the incentives of the agents to explore and generate new information. We characterize the optimal disclosure policy of a planner whose goal is to maximize social welfare. One interpretation of our result is the implementation of what is known as the “wisdom of the crowd.” This topic has become increasingly relevant with the rapid spread of the Internet over the past decade.

Item Type: Journal Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Internet -- Economic aspects , Collective behavior -- Mathematical models
Journal or Publication Title: Journal of Political Economy
Publisher: University of Chicago Press
ISSN: 0022-3808
Official Date: October 2014
Dates:
DateEvent
October 2014Published
28 October 2014Accepted
Volume: 122
Number: 5
Page Range: pp. 988-1012
DOI: 10.1086/676597
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Funder: Google Inter-university Center for Electronic Markets , Israeli Centers of Research Excellence (I-CORE), Israel Science Foundation (ISF)
Grant number: Center no. 4/11 (I-CORE), 032-1852 (ISF)

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics

twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us