Showing 1 - 5 of 5
We model strategic mediation of the communication between an informed expert with a discrete type space and an uninformed decision maker. A strategic mediator can improve communication even when he is biased into the same direction as the expert.
Persistent link: https://www.econbiz.de/10011041620
Persistent link: https://www.econbiz.de/10005288095
Persistent link: https://www.econbiz.de/10005276054
Without a multiplicative interaction between durability and other quality attributes Swan's (1970) independence result is violated, even with constant marginal costs. Subsequent distortions are aligned when the marginal cost of quality does not increase too much with durability.
Persistent link: https://www.econbiz.de/10008474026
Persistent link: https://www.econbiz.de/10005361783