Showing 1 - 10 of 8,264
that although correlation tightens the conditions on preferences for a truth-telling equilibrium, in the presence of … uncertainty, a high level of correlation may discipline the strongly biased expert and may foster the informational content of the … experts’ advice under high uncertainty about correlation. In contrast to what may be expected, it may be optimal for the …
Persistent link: https://www.econbiz.de/10014236650
Consider a mechanism design setting in which agents acquire costly information about an unknown, payoff-relevant state of nature. Information gathering is covert. We investigate conditions under which (i) efficient implementation and (ii) full surplus extraction are Bayesian incentive compatible...
Persistent link: https://www.econbiz.de/10013098252
experts correlation unambiguously tightens the conditions on preferences for a truth-telling equilibrium. However, with … multiple experts the effect of correlation on the incentives to report information truthfully is non-monotonic. In particular …, while very small and very large correlation levels are detrimental for truth-telling, intermediate levels of correlation may …
Persistent link: https://www.econbiz.de/10012987832
one sender case, we show that correlation unambiguously tightens the existence conditions for a truth-telling equilibrium …. We then generalize the model to an arbitrary number of senders, and we find that, in this case, the effect of correlation … on the incentives to report information truthfully is non monotone, and correlation may discipline senders' equilibrium …
Persistent link: https://www.econbiz.de/10010189326
one sender case, we show that correlation unambiguously tightens the existence conditions for a truth-telling equilibrium …. We then generalize the model to an arbitrary number of senders, and we find that, in this case, the effect of correlation … on the incentives to report information truthfully is non monotone, and correlation may discipline senders equilibrium …
Persistent link: https://www.econbiz.de/10011774610
Persistent link: https://www.econbiz.de/10013489788
. Our findings reveal that project correlation leads to these biases countervailing each other, facilitating the …, our study suggests limited benefits in the context of project correlation. …
Persistent link: https://www.econbiz.de/10014636248
We present a partial identification approach for ascending auctions wit bidder asymmetries, where bidders’ asymmetric types may be unobservable to the econometrician. Our approach yields sharp bounds and builds on and generalizes other recent bounds approaches for correlated private values...
Persistent link: https://www.econbiz.de/10011801447
two proposals are highly correlated, then the receiver-treatment effect dominates. Furthermore, as the correlation …
Persistent link: https://www.econbiz.de/10012936657
This paper addresses the problem of implementing socially efficient allocations in dynamic environments with interdependent valuations and evolving private information. In the case where the agents' information is correlated across time, we construct efficient and incentive compatible direct...
Persistent link: https://www.econbiz.de/10011856726