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Sequential decisions with several agents

Author

Listed:
  • Marco Scarsini

    (Dipartimento di Scienze, UniversitÁ D'Annunzio, I-65127 Pescara, ITALY)

  • Bruno Bassan

    (Dipartimento di Matematica, UniversitÁ "La Sapienza", I-00185 Roma, ITALY)

Abstract

We consider k agents who have different subjective probabilities and are utility maximizers. A planner, who knows the beliefs of the agents, maximizes the social expected utility, which is increasing and symmetric in the utilities of the agents. She does that by optimally stopping the flow of information released to the agents. The explicit form of the optimal stopping time is given.

Suggested Citation

  • Marco Scarsini & Bruno Bassan, 1998. "Sequential decisions with several agents," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(2), pages 371-391.
    • Handle: RePEc:spr:joecth:v:12:y:1998:i:2:p:371-391
    Note: Received: October 23, 1995; revised version: June 25, 1997
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