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Decision rules revealing commonly known events

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  • Mylovanov, Tymofiy
  • Zapechelnyuk, Andriy

Abstract

We provide a sufficient condition under which an uninformed principal can infer any information that is common knowledge among two experts, regardless of the structure of the parties’ beliefs. The condition requires that the bias of each expert is less than the radius of the smallest ball containing the action space.

Suggested Citation

  • Mylovanov, Tymofiy & Zapechelnyuk, Andriy, 2013. "Decision rules revealing commonly known events," Economics Letters, Elsevier, vol. 119(1), pages 8-10.
    • Handle: RePEc:eee:ecolet:v:119:y:2013:i:1:p:8-10
    DOI: 10.1016/j.econlet.2013.01.002
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    References listed on IDEAS

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    1. Battaglini Marco, 2004. "Policy Advice with Imperfectly Informed Experts," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 4(1), pages 1-34, April.
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    5. Zapechelnyuk, Andriy, 2013. "Eliciting information from a committee," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2049-2067.
    6. Zapechelnyuk, Andriy, 2013. "Eliciting information from a committee," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2049-2067.
    7. Gilat Levy & Ronny Razin, 2007. "On the Limits of Communication in Multidimensional Cheap Talk: A Comment," Econometrica, Econometric Society, vol. 75(3), pages 885-893, May.
    8. Vijay Krishna & John Morgan, 2001. "A Model of Expertise," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(2), pages 747-775.
    9. 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.
    10. , & ,, 2008. "Multi-sender cheap talk with restricted state spaces," Theoretical Economics, Econometric Society, vol. 3(1), March.
    11. 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.
    12. Koessler, Frédéric & Martimort, David, 2012. "Optimal delegation with multi-dimensional decisions," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1850-1881.
    13. Wolinsky, Asher, 2002. "Eliciting information from multiple experts," Games and Economic Behavior, Elsevier, vol. 41(1), pages 141-160, October.
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    Cited by:

    1. Migrow, Dimitri, 2021. "Designing communication hierarchies," Journal of Economic Theory, Elsevier, vol. 198(C).
    2. Zapechelnyuk, Andriy, 2013. "Eliciting information from a committee," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2049-2067.
    3. Migrow, Dimitri, 2018. "Designing Communication Hierarchies," CRETA Online Discussion Paper Series 44, Centre for Research in Economic Theory and its Applications CRETA.
    4. Ambrus, Attila & Lu, Shih En, 2014. "Almost fully revealing cheap talk with imperfectly informed senders," Games and Economic Behavior, Elsevier, vol. 88(C), pages 174-189.

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    More about this item

    Keywords

    Communication; Multidimensional cheap talk; Multi-sender cheap talk;
    All these keywords.

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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