Over the last couple of decades, non-majoritarian institutions (NMIs) have been introduced in many countries. Of late, they have been criticized as promoting technocracy to the detriment of democracy. A number of political scientists even argue that they would strengthen populists and be, hence,...

Over the last couple of decades, non-majoritarian institutions (NMIs) have been introduced in many countries. Of late, they have been criticized as promoting technocracy to the detriment of democracy. A number of political scientists even argue that they would strengthen populists and be, hence,...

Actors in various settings have been increasingly relying on algorithmic tools to support their decision-making. Much of the public debate concerning algorithms - especially the associated regulation of new technologies - rests on the assumption that humans can assess the quality of algorithms....

We investigate how a cautious decision maker might aggregate various opinions of experts who face model misspecification. We first consider a more general case in which both the decision maker’s and experts’ preference relations are variational introduced by Maccheroni et al. (2006). We show...

Expert networks provide investors with in-depth discussions with subject matter experts. Expert call demand is higher for younger, technology-oriented firms and those with greater intangible assets, consistent with demand for information on hard-to-value firms. Expert calls are more (less)...

In smart city practice, urban policymakers show to focus foremost on the technologies sec. This often leads to quite uniform, technocratic and corporate-led ways of handling urban issues. In contrast, more attention should be paid to the question of appropriateness of smart city technologies....

In smart city practice, urban policymakers show to focus foremost on the technologies sec. This often leads to quite uniform, technocratic and corporate-led ways of handling urban issues. In contrast, more attention should be paid to the question of appropriateness of smart city technologies....

The US Inflation Reduction Act (IRA) promotes renewable energy and contributes to climate protection, but also offers generous tax credits and subsidies to incentivize production in the United States. While the planned generosity of the program has sparked an intense debate about potential...

Experts' voting behavior is conjectured to be more objective than peer voting (own group/peers) and public voters (everyone interested), who are supposedly influenced by all sorts of subjective aspects. We examine differences in voting behavior between these groups by analyzing the voting...

This paper is prepared based on the seminar session on quality assurance in HEIs in Nepal organized by Bhuwanishankar Multiple College on 29 May 2023. The program was organized in five sessions. Experts' opinions on the HEIs were recorded, transcribed and coded. Finally, the theme derived from...

Machine learning algorithms dedicated to financial time series forecasting have gained a lot of interest. But choosing between several algorithms can be challenging, as their estimation accuracy may be unstable over time. Online aggregation of experts combine the forecasts of a finite set of...

In many consulting environments, the expert often assertively recommends the client to take an action but is vague about the probability of that action’s outcomes, making the recommendation ambiguous. This paper analytically investigates this phenomenon by incorporating the client’s optimism...

In the emerging literature on human–artificial intelligence (AI) teaming, the effectiveness of teaming is established on the complementarity between the unique advantages of both human experts and AI. Due to the nature of machine learning, contemporary AI can outperform human experts in narrow...

Complex and important policy decisions are often made with advice from a committee of experts, where experts first convene and discuss, before finalizing their collective decision with a vote. We show that the voting structure (whether the experts vote sequentially or simultaneously) plays a...

Consider a group of economists evaluating a long-term project by using quasi- hyperbolic rules. The parameters (discount rates and present bias) used by each economist may differ, which implies different policy recommendations. Then a policy maker has to choose a socially efficient aggregation...

When giving to one charity, individuals face two types of uncertainty, descriptive and normative. We report a between-subjects charitable-giving experiment which provides first data on normative uncertainty (n=1890). In our experiment, participants can bid for either descriptive information,...

This article sheds light on the impact of the media on economists' expectations for future economic developments. We conducted a worldwide economic expert survey and find that the media provides most economists with valuable information that influences their expectations. This applies...

Motivated by markets for ''expertise,'' we study a bandit model where a principal chooses between a safe and risky arm. A strategic agent controls the risky arm and privately knows whether its type is high or low. Irrespective of type, the agent wants to maximize duration of experimentation with...

Expert forecast combination—the aggregation of individual forecasts from multiple subject-matter experts— is a proven approach to economic forecasting. To date, research in this area has exclusively concentrated on local combination methods, which handle separate but related forecasting...

Climate experts delegated by countries to COP 24 and COP 25 show much agreement on international energy policy measures in the context of climate protection. Experts on average also agree with the proposal of compensating countries with large oil and gas reserves for not extracting them. But...

Resource allocation decisions play a dominant role in shaping a firm’s technological trajectory and competitive advantage. Recent work indicates that innovative firms and scientific institutions tend to exhibit an anti-novelty bias when evaluating new projects and ideas. In this paper, we...

We consider the communication of expertise in a disclosure game. A sender wants to persuade a receiver to take a high-value action. The sender has private information about her ability to acquire evidence, called her expertise. After the sender communicates her expertise to the receiver through...

Actors in various settings have been increasingly relying on algorithmic tools to support their decision-making. Much of the public debate concerning algorithms - especially the associated regulation of new technologies - rests on the assumption that humans can assess the quality of algorithms....

To realize the evaluation and hierarchical management of the meta-competency of the bid evaluation experts, this paper constructs the evaluation index system of bid evaluation expert meta-competence by referring to relevant literature and consulting expert opinions. By judging the importance of...

This paper shows that the principal can strictly benefit from delegating a decision to an agent whose opinion differs from that of the principal. We consider a ``delegated expertise'' problem in which the agent has an advantage in information acquisition relative to the principal, as opposed to...

Today’s organizations have come to view and to use workplace teams as information processors, making the ability to manage knowledge and expertise an essential pre-requisite for effective group decisions. Consequently, an important mandate for leaders of information processing groups is to...

Do experts and laypersons differ in their judgements of quality? We investigate this question in the context of classical music performance, taking advantage of the fact that in many international music competitions, lay audiences as well as expert juries award prizes. This allows us to proxy...

Expert reviews in a multi-dimensional rating system are increasingly popular on online review platforms. However, extant studies have primarily examined expert reviews in a single-dimensional rating system. Using a quasi-experiment opportunity provided by an automobile review platform, we...

We jointly model investors' allocation of order flow among over-the-counter dealers and dealers' acquisition of expertise that increases their ability to take advantage of investors across transactions. Investors choose dealers based on their level of expertise and the liquidity they are...

We construct a neural network algorithm that generates price predictions for art at auction, relying on both visual and non-visual object characteristics. We find that higher automated valuations relative to auction house pre-sale estimates are associated with substantially higher...

While Reinforcement Learning (RL) aims to train an agent from a reward function in a given environment, Inverse Reinforcement Learning (IRL) seeks to recover the reward function from observing an expert’s behavior. It is well known that, in general, various reward functions can lead to the...

This is a simple eye-opening paper under qualitative perspective based on experts' opinion. The information overthrown through paper is based on the review from public finance management workbook, experts' opinion and article review. Experts videos specific to public finance management is...

Professionalism is often viewed, in the management literature and in practice, as a desirable sought-after trait in employees and managers. This belief, however, does not consider a potential dark side of professionalism. A high self-concept of professionalism often coexists with a shallow...

Organizations need to both differentiate themselves while conforming to their audiences’ expectations. To meet this demand, organizations may span different categories. However, valuing spanners is challenging for audiences. We contend that spanners’ valuation depends on category nesting, as...

Purpose. The purpose of this study is to examine the internal consistency of wine guides by comparing the judgements of expert wine tasters and reviewers. A classification of wines is provided to establish whether expert reviews of similar wines are coherent. Design/methodology/approach....