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Valsecchi, Irene. |
The survey is concerned with the issue of information transmission from experts to non-experts. Two main approaches to the use of experts can be traced. According to the game-theoretic approach expertise is a case of asymmetric information between the expert, who is the better informed agent, and the non-expert, who is either a decision-maker or an evaluator of the expert’s performance. According to the Bayesian decision-theoretic approach the expert is the agent who announces his probabilistic opinion, and the non-expert has to incorporate that opinion into his beliefs in a consistent way, despite his poor understanding of the expert’s substantive knowledge. The two approaches ground the relationships between experts and non-experts on such different... |
Tipo: Working or Discussion Paper |
Palavras-chave: Expert; Information Transmission; Learning; D81; L21. |
Ano: 2008 |
URL: http://purl.umn.edu/36756 |
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Tennbakk, Berit. |
Over production is a persistent and costly problem in Norwegian agriculture. Support to agricultural production implicitly yields incentives to produce too much, i.e., causing market prices to fall below the target level, and thereby increasing the need for subsidies and additional market interventions. In order to restrict supplies, farmers are allowed to coordinate through marketing cooperatives. The paper argues that this coordination is likely to be insufficient in markets where the cooperative competes with an investor-owned wholesaler. Interventions in the market in order to remove excess supplies may induce further incentives to increase production. Levying a tax on all production in order to cover market regulation costs, moves the solution in the... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Cooperatives; Regulation; Over production; Duopoly; Agribusiness; Q13; L21; D43. |
Ano: 2002 |
URL: http://purl.umn.edu/24907 |
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Valsecchi, Irene. |
The paper is concerned with the interaction between two agents: an expert, announcing his probability that a particular state of the world will occur, and a non-expert decision-maker, who takes action according to his posterior beliefs. The decision-maker considers the expert an experiment of uncertain reliability and takes the received messages as the outcomes of such an experiment. The model of the expert in the decision-makers mind bears no relation with any measure of the experts actual information. The paper shows that messages will be biased, notwithstanding solidarity between the agents. However, the longer the interaction, the less severe will be the bias. |
Tipo: Working or Discussion Paper |
Palavras-chave: Opinion; Expert; Instructions; Resource /Energy Economics and Policy; D81; L21. |
Ano: 2007 |
URL: http://purl.umn.edu/8647 |
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