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Two (talking) heads are not better than one

Author

Listed:
  • Ming Li

    (Concordia University)

Abstract

I discuss a scenario in which second expert opinions may not benefit decision making. The introduction of a second expert s the possibility of partisan bickering, which impairs information transmission.

Suggested Citation

  • Ming Li, 2008. "Two (talking) heads are not better than one," Economics Bulletin, AccessEcon, vol. 3(63), pages 1-8.
    • Handle: RePEc:ebl:ecbull:eb-08c70004
    as

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    File URL: http://www.accessecon.com/pubs/EB/2008/Volume3/EB-08C70004A.pdf
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    Citations

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    Cited by:

    1. Esra E. Bayindir & Mehmet Y. Gurdal & Ayca Ozdogan & Ismail Saglam, 2020. "Cheap Talk Games with Two-Senders and Different Modes of Communication," Games, MDPI, vol. 11(2), pages 1-22, April.
    2. Tymofiy Mylovanov & Andriy Zapechelnyuk, 2013. "Optimal Arbitration," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 769-785, August.
    3. Tymofiy Mylovanov & Andriy Zapechelnyuk, 2010. "Decision Rules for Experts with Opposing Interests," Working Papers 674, Queen Mary University of London, School of Economics and Finance.
    4. Gurdal, Mehmet Y. & Ozdogan, Ayca & Saglam, Ismail, 2013. "Cheap talk with simultaneous versus sequential messages," MPRA Paper 45727, University Library of Munich, Germany.
    5. Li Ming, 2010. "Advice from Multiple Experts: A Comparison of Simultaneous, Sequential, and Hierarchical Communication," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 10(1), pages 1-24, April.
    6. Doojav, Gan-Ochir, 2018. "The political economy of central bank’s quasi-fiscal operations implemented for 2012-2016 in Mongolia," MPRA Paper 109850, University Library of Munich, Germany, revised May 2018.
    7. Gulen Karakoc, 2020. "Cheap Talk with Multiple Experts and Uncertain Biases," Working Papers 451, University of Milano-Bicocca, Department of Economics.

    More about this item

    Keywords

    second opinion;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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