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Marco Ottaviani

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Hoffmann, Florian & Inderst, Roman & Ottaviani, Marco, 2022. "Persuasion Through Selective Disclosure: Implications for Marketing, Campaigning, and Privacy Regulation," CEPR Discussion Papers 16901, C.E.P.R. Discussion Papers.

    Cited by:

    1. Andrei Matveenko & Egor Starkov, 2023. "Sparking curiosity or tipping the scales? Targeted advertising with consumer learning," CRC TR 224 Discussion Paper Series crctr224_2023_425, University of Bonn and University of Mannheim, Germany.
    2. Arianna Degan & Ming Li & Huan Xie, 2023. "An experimental investigation of persuasion through selective disclosure of evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1490-1516, November.
    3. Kemal Kivanc Akoz & Arseniy Samsonov, 2023. "Bargaining over information structures," Discussion Papers 2301, Budapest University of Technology and Economics, Quantitative Social and Management Sciences.
    4. Cloarec, Julien, 2020. "The personalization–privacy paradox in the attention economy," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    5. Ispano, Alessandro & Schwardmann, Peter, 2021. "Cursed Consumers and the Effectiveness of Consumer Protection Policies," Rationality and Competition Discussion Paper Series 305, CRC TRR 190 Rationality and Competition.
    6. Alonso, Ricardo & Câmara, Odilon, 2024. "Organizing data analytics," LSE Research Online Documents on Economics 120780, London School of Economics and Political Science, LSE Library.
    7. Martin, Kelly D. & Kim, Jisu J. & Palmatier, Robert W. & Steinhoff, Lena & Stewart, David W. & Walker, Beth A. & Wang, Yonggui & Weaven, Scott K., 2020. "Data Privacy in Retail," Journal of Retailing, Elsevier, vol. 96(4), pages 474-489.
    8. Budzinski, Oliver & Gruésevaja, Marina & Noskova, Victoriia, 2020. "The economics of the German investigation of Facebook's data collection," Ilmenau Economics Discussion Papers 139, Ilmenau University of Technology, Institute of Economics.
    9. Ottaviani, Marco & Di Tillio, Alfredo & Sørensen, Peter Norman, 2017. "Strategic Sample Selection," CEPR Discussion Papers 12202, C.E.P.R. Discussion Papers.
    10. Drugov, Mikhail & ,, 2021. "Score Disclosure," CEPR Discussion Papers 16707, C.E.P.R. Discussion Papers.
    11. Haifei Yu & Shanshan Zheng & Hao Wu, 2023. "User Privacy Awareness, Incentive and Data Supply Chain Pricing Strategy," Sustainability, MDPI, vol. 15(4), pages 1-24, February.
    12. Qiang Gong & Jie Shuai & Huanxing Yang, 2023. "Informational correlation and selective disclosure," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(2), pages 645-683, August.

  2. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.

    Cited by:

    1. Belot, Michèle & Kircher, Philipp & Muller, Paul, 2022. "Do the Long-Term Unemployed Benefit from Automated Occupational Advice during Online Job Search?," IZA Discussion Papers 15452, Institute of Labor Economics (IZA).

  3. J'er^ome Adda & Christian Decker & Marco Ottaviani, 2019. "P-hacking in clinical trials and how incentives shape the distribution of results across phases," Papers 1907.00185, arXiv.org, revised Mar 2020.

    Cited by:

    1. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.
    2. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.
    3. Abel Brodeur & Nikolai Cook & Carina Neisser, 2024. "p-Hacking, Data type and Data-Sharing Policy," The Economic Journal, Royal Economic Society, vol. 134(659), pages 985-1018.
    4. Graham Elliott & Nikolay Kudrin & Kaspar Wuthrich, 2022. "The Power of Tests for Detecting $p$-Hacking," Papers 2205.07950, arXiv.org, revised Apr 2024.

  4. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.

    Cited by:

    1. Elisa F. Long & Gilberto Montibeller & Jun Zhuang, 2022. "Health Decision Analysis: Evolution, Trends, and Emerging Topics," Decision Analysis, INFORMS, vol. 19(4), pages 255-264, December.

  5. Ottaviani, Marco & Meloso, Debrah & Nunnari, Salvatore, 2018. "Looking into Crystal Balls: A Laboratory Experiment on Reputational Cheap Talk," CEPR Discussion Papers 13231, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.
    2. David Danz & Lise Vesterlund & Alistair J. Wilson, 2020. "Belief Elicitation: Limiting Truth Telling with Information on Incentives," CESifo Working Paper Series 8048, CESifo.
    3. Yuan Liu & Hongmin Chen, 2022. "Cheap‐talk advertising, product experience, and reputation concern," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 3165-3175, October.

  6. Ottaviani, Marco & Di Tillio, Alfredo & Sørensen, Peter Norman, 2017. "Strategic Sample Selection," CEPR Discussion Papers 12202, C.E.P.R. Discussion Papers.

    Cited by:

    1. Arianna Degan & Ming Li & Huan Xie, 2023. "An experimental investigation of persuasion through selective disclosure of evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1490-1516, November.
    2. Maximilian Kasy & Jann Spiess, 2022. "Rationalizing Pre-Analysis Plans:Statistical Decisions Subject to Implementability," Economics Series Working Papers 975, University of Oxford, Department of Economics.
    3. Alonso, Ricardo & Câmara, Odilon, 2024. "Organizing data analytics," LSE Research Online Documents on Economics 120780, London School of Economics and Political Science, LSE Library.
    4. Kasy, Maximilian & Spiess, Jann, 2024. "Optimal Pre-analysis Plans: Statistical Decisions Subject to Implementability," IZA Discussion Papers 17187, Institute of Labor Economics (IZA).
    5. Kim, Yonggyun, 2023. "Comparing information in general monotone decision problems," Journal of Economic Theory, Elsevier, vol. 211(C).
    6. Herresthal, Claudia, 2022. "Hidden testing and selective disclosure of evidence," Journal of Economic Theory, Elsevier, vol. 200(C).

  7. Ottaviani, Marco, 2017. "Research and the Approval Process: The Organization of Persuasion," CEPR Discussion Papers 11939, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.
    2. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.
    3. Francisco Poggi & Bruno Strulovici, 2020. "Liability Design with Information Acquisition," Papers 2012.05066, arXiv.org.
    4. Shiri Alon & Sarah Auster & Gabi Gayer & Stefania Minardi, 2023. "Persuasion with Limited Data: A Case-Based Approach," ECONtribute Discussion Papers Series 245, University of Bonn and University of Cologne, Germany.
    5. Alexander Frankel & Maximilian Kasy, 2022. "Which Findings Should Be Published?," American Economic Journal: Microeconomics, American Economic Association, vol. 14(1), pages 1-38, February.
    6. Wei Zhao & Claudio Mezzetti & Ludovic Renou & Tristan Tomala, 2020. "Contracting over persistent information," Papers 2007.05983, arXiv.org, revised Mar 2021.
    7. Federico Echenique & Kevin He, 2024. "Screening p -hackers: Dissemination noise as bait," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 121(21), pages 2400787121-, May.
    8. Shaofei Jiang, 2024. "Costly Persuasion by a Partially Informed Sender," Papers 2401.14087, arXiv.org, revised Nov 2024.
    9. Maximilian Kasy & Jann Spiess, 2022. "Rationalizing Pre-Analysis Plans:Statistical Decisions Subject to Implementability," Economics Series Working Papers 975, University of Oxford, Department of Economics.
    10. Yariv, Leeat & Reshidi, Pellumb & Lizzeri, Alessandro & Chan, Jimmy & Suen, Wing, 2021. "Individual and Collective Information Acquisition: An Experimental Study," CEPR Discussion Papers 16782, C.E.P.R. Discussion Papers.
    11. Matteo Escud'e & Ludvig Sinander, 2019. "Slow persuasion," Papers 1903.09055, arXiv.org, revised Apr 2022.
    12. Kiri, Bralind & Lacetera, Nicola & Zirulia, Lorenzo, 2018. "Above a swamp: A theory of high-quality scientific production," Research Policy, Elsevier, vol. 47(5), pages 827-839.
    13. Chia-Hui Chen & Junichiro Ishida, 2015. "Hierarchical Experimentation," ISER Discussion Paper 0949, Institute of Social and Economic Research, Osaka University.
    14. Kasy, Maximilian & Spiess, Jann, 2024. "Optimal Pre-analysis Plans: Statistical Decisions Subject to Implementability," IZA Discussion Papers 17187, Institute of Labor Economics (IZA).
    15. Yeon-Koo Che & Konrad Mierendorff, 2018. "Optimal Dynamic Allocation of Attention," Papers 1812.06967, arXiv.org.
    16. Matthias Dahm & Paula González & Nicolás Porteiro, 2018. "The Enforcement of Mandatory Disclosure Rules," Working Papers 18.09, Universidad Pablo de Olavide, Department of Economics.
    17. Liao, Xiaoye, 2021. "Bayesian persuasion with optimal learning," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    18. Jacopo Bizzotto & Adrien Vigier, 2021. "Can a better informed listener be easier to persuade?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(3), pages 705-721, October.
    19. Maxim Senkov, 2022. "Setting Interim Deadlines to Persuade," CERGE-EI Working Papers wp734, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    20. Julien Jacob & Caroline Orset, 2024. "Innovation, information, lobby and tort law under uncertainty," Working Papers of BETA 2024-02, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    21. Yichuan Lou, 2023. "Private Experimentation, Data Truncation, and Verifiable Disclosure," Papers 2305.04231, arXiv.org.
    22. Ottaviani, Marco & Di Tillio, Alfredo & Sørensen, Peter Norman, 2017. "Strategic Sample Selection," CEPR Discussion Papers 12202, C.E.P.R. Discussion Papers.
    23. Mike Felgenhauer & Fangya Xu, 2021. "The Face Value Of Arguments With And Without Manipulation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(1), pages 277-293, February.
    24. Bizzotto, Jacopo & Rüdiger, Jesper & Vigier, Adrien, 2020. "Testing, disclosure and approval," Journal of Economic Theory, Elsevier, vol. 187(C).
    25. Vasudha Jain & Mark Whitmeyer, 2021. "Whose Bias?," Papers 2111.10335, arXiv.org.
    26. Nuta, Shunya, 2024. "Starting rough, Dynamic persuasion with partial information," Economics Letters, Elsevier, vol. 239(C).
    27. Samuel Häfner & Curtis R. Taylor, 2022. "On young Turks and yes men: optimal contracting for advice," RAND Journal of Economics, RAND Corporation, vol. 53(1), pages 63-94, March.
    28. Kolb, Aaron M., 2019. "Strategic real options," Journal of Economic Theory, Elsevier, vol. 183(C), pages 344-383.
    29. Herresthal, Claudia, 2022. "Hidden testing and selective disclosure of evidence," Journal of Economic Theory, Elsevier, vol. 200(C).
    30. Raphael Boleslavsky, 2023. "Waiting for Fake News," Papers 2304.04053, arXiv.org, revised Apr 2023.
    31. Wu, Wenhao, 2023. "Sequential Bayesian persuasion," Journal of Economic Theory, Elsevier, vol. 214(C).
    32. Zeinab Aboutalebi & Ayush Pant, 2021. "Believe ... and you are there. On Self-Confidence and Feedback," Working Papers 64, Ashoka University, Department of Economics.
    33. Davide Viviano & Kaspar Wuthrich & Paul Niehaus, 2021. "A model of multiple hypothesis testing," Papers 2104.13367, arXiv.org, revised Apr 2024.
    34. Andrew McClellan, 2022. "Experimentation and Approval Mechanisms," Econometrica, Econometric Society, vol. 90(5), pages 2215-2247, September.
    35. Emir Kamenica & Kyungmin Kim & Andriy Zapechelnyuk, 2021. "Bayesian persuasion and information design: perspectives and open issues," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(3), pages 701-704, October.
    36. Felgenhauer, Mike, 2021. "Experimentation and manipulation with preregistration," Games and Economic Behavior, Elsevier, vol. 130(C), pages 400-408.

  8. Ottaviani, Marco & Di Tillio, Alfredo & Sørensen, Peter Norman, 2016. "Persuasion Bias in Science: Can Economics Help?," CEPR Discussion Papers 11343, C.E.P.R. Discussion Papers.

    Cited by:

    1. Aleksey Tetenov, 2016. "An economic theory of statistical testing," CeMMAP working papers CWP50/16, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
    2. Kfir Eliaz & Ran Spiegler & Yair Weiss, 2019. "Cheating with (Recursive) Models," Papers 1911.01251, arXiv.org.
    3. Maximilian Kasy & Jann Spiess, 2022. "Rationalizing Pre-Analysis Plans:Statistical Decisions Subject to Implementability," Economics Series Working Papers 975, University of Oxford, Department of Economics.
    4. Alonso, Ricardo & Câmara, Odilon, 2024. "Organizing data analytics," LSE Research Online Documents on Economics 120780, London School of Economics and Political Science, LSE Library.
    5. Michel Abramowicz & Ariane Szafarz, 2019. "Ethics of Randomized Controlled Trials: Should Economists Care about Equipoise?," Working Papers CEB 19-017, ULB -- Universite Libre de Bruxelles.
    6. Herresthal, C., 2017. "Hidden Testing and Selective Disclosure of Evidence," Cambridge Working Papers in Economics 1712, Faculty of Economics, University of Cambridge.
    7. Kasy, Maximilian & Spiess, Jann, 2024. "Optimal Pre-analysis Plans: Statistical Decisions Subject to Implementability," IZA Discussion Papers 17187, Institute of Labor Economics (IZA).
    8. So, Tony, 2020. "Classroom experiments as a replication device," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 86(C).
    9. Matthias Dahm & Paula González & Nicolás Porteiro, 2018. "The Enforcement of Mandatory Disclosure Rules," Working Papers 18.09, Universidad Pablo de Olavide, Department of Economics.
    10. Zacharias Maniadis & Fabio Tufano & John A. List, 2017. "To Replicate or Not To Replicate? Exploring Reproducibility in Economics through the Lens of a Model and a Pilot Study," Economic Journal, Royal Economic Society, vol. 127(605), pages 209-235, October.
    11. Jeremy Bertomeu & Davide Cianciaruso, 2018. "Verifiable disclosure," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 1011-1044, June.
    12. Herresthal, Claudia, 2022. "Hidden testing and selective disclosure of evidence," Journal of Economic Theory, Elsevier, vol. 200(C).
    13. Felgenhauer, Mike, 2021. "Experimentation and manipulation with preregistration," Games and Economic Behavior, Elsevier, vol. 130(C), pages 400-408.

  9. Florian Hoffmann & Roman Inderst & Marco Ottaviani, 2013. "Hypertargeting, Limited Attention, and Privacy: Implications for Marketing and Campaigning," Working Papers 479, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.

    Cited by:

    1. Peter Seele & Claus Dierksmeier & Reto Hofstetter & Mario D. Schultz, 2021. "Mapping the Ethicality of Algorithmic Pricing: A Review of Dynamic and Personalized Pricing," Journal of Business Ethics, Springer, vol. 170(4), pages 697-719, May.
    2. Bergemann, Dirk & Alessandro Bonatti, 2013. "Selling Cookies," Cowles Foundation Discussion Papers 1920, Cowles Foundation for Research in Economics, Yale University.
    3. Hunt Allcott & Richard L. Sweeney, 2017. "The Role of Sales Agents in Information Disclosure: Evidence from a Field Experiment," Management Science, INFORMS, vol. 63(1), pages 21-39, January.
    4. Archishman Chakraborty & Rick Harbaugh, 2014. "Persuasive Puffery," Marketing Science, INFORMS, vol. 33(3), pages 382-400, May.
      • Archishman Chakraborty & Rick Harbaugh, 2012. "Persuasive Puffery," Working Papers 2012-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    5. Anja Prummer, 2016. "Spatial Advertisement in Political Campaigns," Working Papers 805, Queen Mary University of London, School of Economics and Finance.
    6. Paul Heidhues & Botond Kőszegi, 2017. "Naïveté-Based Discrimination," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(2), pages 1019-1054.
    7. Prummer, Anja, 2020. "Micro-targeting and polarization," Journal of Public Economics, Elsevier, vol. 188(C).

  10. Albert Banal-Estañol & Marco Ottaviani & Andrew Winton, 2013. "The Flip Side of Financial Synergies: Coinsurance versus Risk Contamination," Working Papers 484, Barcelona School of Economics.

    Cited by:

    1. Giovanna Nicodano & Luca Regis, 2014. "Complex organizations, tax policy and financial stability," Carlo Alberto Notebooks 359, Collegio Carlo Alberto, revised 2015.
    2. Giovanna Nicodano & Luca Regis, 2015. "Ownership, Taxes and Default," Working Papers 7/2015, IMT School for Advanced Studies Lucca, revised Jul 2015.
    3. Mikel Bedayo, 2016. "Creating associations to substitute banks’direct credit. Evidence from Belgium," Working Paper Research 315, National Bank of Belgium.
    4. Guembel, Alexander & Sussman, Oren, 2014. "The Pecking Order of Segmentation and Liquidity-Injection Policies in a Model of Contagious Crises," TSE Working Papers 14-498, Toulouse School of Economics (TSE), revised Mar 2019.
    5. Gottardi, Piero & Maurin, Vincent & Monnet, Cyril, 2021. "Financial Fragility with Collateral Circulation," CEPR Discussion Papers 15757, C.E.P.R. Discussion Papers.
    6. Luciano, Elisa & Wihlborg, Clas, 2018. "Financial synergies and systemic risk in the organization of bank affiliates," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 208-224.
    7. Gao, Peng & Vochozka, Marek & Niu, Siqian, 2024. "The contagion effect of overconfidence in business group," International Review of Financial Analysis, Elsevier, vol. 91(C).
    8. Rosa Ferrentino & Luca Vota, 2023. "The optimal financing of a conglomerate firm with hidden information and costly state verification," Annals of Finance, Springer, vol. 19(1), pages 23-62, March.
    9. Luciano, Elisa & Wihlborg, Clas, 2023. "Why are BHCs organized as parent-subsidiaries? How do they grow in value?," Journal of Financial Stability, Elsevier, vol. 67(C).
    10. Michela Altieri & Giovanna Nicodano, 2020. "Survival and Pricing Puzzles," Carlo Alberto Notebooks 604, Collegio Carlo Alberto.
    11. Marco Buso & Luciano Greco, 2023. "The optimality of public–private partnerships under financial and fiscal constraints," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 32(4), pages 856-881, October.
    12. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2023. "Fragility of Secured Credit Chains," Working Papers 23.01, Swiss National Bank, Study Center Gerzensee.
    13. Jieying Hong & Rui Zhang, 2023. "Manager‐specific shocks, financial constraints and conglomerate merger," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(1), pages 46-59, February.
    14. Mikel Bedayo, 2017. "Creating associations as a substitute for direct bank credit. Evidence from Belgium," Working Papers 1704, Banco de España.
    15. Zhang, Jingyi & Liu, Xuejuan, 2024. "The mechanism of enterprise credit guarantee risk contagion considering ESG," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 221(C), pages 503-514.
    16. Michela Altieri & Giovanna Nicodano, 2016. "The Apparent Diversification Discount," Carlo Alberto Notebooks 465, Collegio Carlo Alberto.
    17. Hans Rau-Bredow, 2019. "Bigger Is Not Always Safer: A Critical Analysis of the Subadditivity Assumption for Coherent Risk Measures," Risks, MDPI, vol. 7(3), pages 1-18, August.
    18. Dam, Kaniṣka & Roy Chowdhury, Prabal, 2021. "Monitoring and incentives under multiple-bank lending: The role of collusive threats," Journal of Economic Theory, Elsevier, vol. 197(C).

  11. Roman Inderst & Marco Ottaviani, 2012. "Sales Talk, Cancellation Terms, and the Role of Consumer Protection," Working Papers 465, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.

    Cited by:

    1. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.
    2. David Bardey & Denis Gromb & David Martimort & Jérôme Pouyet, 2020. "Controlling Sellers Who Provide Advice: Regulation and Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 68(3), pages 409-444, September.
    3. Michel, Christian, 2017. "Market regulation of voluntary add-on contracts," International Journal of Industrial Organization, Elsevier, vol. 54(C), pages 239-268.
    4. Murooka, Takeshi & Schwarz, Marco, 2018. "Consumer Exploitation and Notice Periods," Rationality and Competition Discussion Paper Series 109, CRC TRR 190 Rationality and Competition.
    5. David Bardey & Denis Gromb & David Martimort & Jerome Pouyet, 2016. "Drugs, Showrooms and Financial Products: Competition and Regulation when Sellers Provide Expert Advice," Documentos CEDE 15231, Universidad de los Andes, Facultad de Economía, CEDE.
    6. Christian Michel & André Stenzel, 2018. "Model-Based Evaluation of Cooling-off Policies," CRC TR 224 Discussion Paper Series crctr224_2018_061v2, University of Bonn and University of Mannheim, Germany.
    7. Florian Hoffmann & Roman Inderst & Sergey Turlo, 2018. "Regulating Cancellation Rights With Consumer Experimentation," CRC TR 224 Discussion Paper Series crctr224_2018_045, University of Bonn and University of Mannheim, Germany.
    8. Ericson, Keith M. Marzilli, 2020. "When consumers do not make an active decision: Dynamic default rules and their equilibrium effects," Games and Economic Behavior, Elsevier, vol. 124(C), pages 369-385.
    9. Mikhail Drugov & Marta Troya-Martinez, 2018. "Vague lies and lax standards of proof: On the law and economics of advice," Working Papers w0246, Center for Economic and Financial Research (CEFIR).
    10. Inderst, Roman & Obradovits, Martin, 2021. "Excessive Competition on Headline Prices," EconStor Preprints 253666, ZBW - Leibniz Information Centre for Economics.
    11. Herweg, Fabian & Rosato, Antonio, 2018. "Bait and Ditch: Consumer Naiveté and Salesforce Incentives," CEPR Discussion Papers 12612, C.E.P.R. Discussion Papers.
    12. Hervé Laroche & Véronique Steyer & Christelle Théron, 2019. "How Could You be so Gullible? Scams and Over-Trust in Organizations," Journal of Business Ethics, Springer, vol. 160(3), pages 641-656, December.
    13. Kiryl Khalmetski, 2013. "The Hidden Value of Lying: Evasion of Guilt in Expert Advice," 2013 Papers pkh266, Job Market Papers.
    14. Rhodes, Andrew & Wilson, Chris, 2015. "False Advertising," TSE Working Papers 15-614, Toulouse School of Economics (TSE), revised Oct 2017.
    15. Fabian Herweg & Antonio Rosato, 2020. "Bait and ditch: Consumer naïveté and salesforce incentives," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(1), pages 97-121, January.
    16. Bird, Davina & Garrod, Luke & Wilson, Chris M, 2024. "Consumer protection versus competition: the case of mandatory refunds," MPRA Paper 122125, University Library of Munich, Germany.
    17. Toomas Hinnosaar & Keiichi Kawai, 2018. "Robust Pricing with Refunds," Carlo Alberto Notebooks 563, Collegio Carlo Alberto.
    18. Khalmetski, Kiryl, 2019. "Evasion of guilt in expert advice," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 296-310.
    19. Christian Michel, 2018. "Contractual structures and consumer misperceptions," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 27(2), pages 188-205, June.
    20. Daniel Krähmer & Roland Strausz, 2015. "Optimal Sales Contracts with Withdrawal Rights," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(2), pages 762-790.
    21. Dmitry Lubensky & Eric Schmidbauer, 2020. "Free Product Trials: Disclosing Quality And Match Value," Economic Inquiry, Western Economic Association International, vol. 58(4), pages 1565-1576, October.
    22. Xingyi Liu, 2018. "Disclosing information to a loss-averse audience," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(1), pages 63-79, April.
    23. Petrikaitė, Vaiva, 2018. "A search model of costly product returns," International Journal of Industrial Organization, Elsevier, vol. 58(C), pages 236-251.
    24. Gnutzmann, Hinnerk & Śpiewanowski, Piotr, 2023. "Can consumer rights improve on-time performance? Evidence from European Air Passenger Rights," Transport Policy, Elsevier, vol. 136(C), pages 155-168.
    25. Michel, Christian, 2016. "Market Regulation of Voluntary Add-on Contracts," VfS Annual Conference 2016 (Augsburg): Demographic Change 145892, Verein für Socialpolitik / German Economic Association.
    26. Bruno Jullien & In-Uck Park, 2014. "New, Like New, or Very Good? Reputation and Credibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(4), pages 1543-1574.
    27. Cook, Jeffrey J. & Cruce, Jesse & O'Shaughnessy, Eric & Ardani, Kristen & Margolis, Robert, 2021. "Exploring the link between project delays and cancelation rates in the U.S. rooftop solar industry," Energy Policy, Elsevier, vol. 156(C).
    28. Zhengqing Gui & Yangguang Huang & Xiaojian Zhao, 2018. "Whom to Educate? Financial Fraud and Investor Awareness," HKUST IEMS Working Paper Series 2018-52, HKUST Institute for Emerging Market Studies, revised Jan 2018.
    29. Yuk‐Fai Fong & Xiaoxiao Hu & Ting Liu & Xiaoxuan Meng, 2020. "Using Customer Service to Build Clients’ Trust," Journal of Industrial Economics, Wiley Blackwell, vol. 68(1), pages 136-155, March.
    30. Inderst, Roman & Tirosh, Gilad, 2015. "Refunds and returns in a vertically differentiated industry," International Journal of Industrial Organization, Elsevier, vol. 38(C), pages 44-51.
    31. Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.

  12. Inderst, Roman & Ottaviani, Marco, 2009. "Misselling through agents," IMFS Working Paper Series 36, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).

    Cited by:

    1. Zheyin (Jane) Gu & Yunchuan Liu, 2018. "Why would a big retailer refuse to collaborate on manufacturer SPIFF programs?," Quantitative Marketing and Economics (QME), Springer, vol. 16(4), pages 441-472, December.
    2. Balafoutas, Loukas & Kerschbamer, Rudolf, 2020. "Credence goods in the literature: What the past fifteen years have taught us about fraud, incentives, and the role of institutions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
    3. Simona Grassi & Ching-to Albert Ma, 2016. "Information Acquisition, Referral, and Organization," Boston University - Department of Economics - Working Papers Series wp2016-005, Boston University - Department of Economics.
    4. Inderst, Roman & Georgarakos, Dimitris, 2014. "Financial Advice and Stock Market Participation," CEPR Discussion Papers 9922, C.E.P.R. Discussion Papers.
    5. David Bardey & Denis Gromb & David Martimort & Jérôme Pouyet, 2020. "Controlling Sellers Who Provide Advice: Regulation and Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 68(3), pages 409-444, September.
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  13. Marco Ottaviani & Peter Norman Sørensen, 2009. "Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets," Discussion Papers 09-14, University of Copenhagen. Department of Economics.

    Cited by:

    1. Giovanni Cespa & Xavier Vives, 2012. "Dynamic Trading and Asset Prices: Keynes vs. Hayek," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(2), pages 539-580.
    2. Cimadomo, Jacopo & Claeys, Peter & Poplawski-Ribeiro, Marcos, 2016. "How do experts forecast sovereign spreads?," European Economic Review, Elsevier, vol. 87(C), pages 216-235.
    3. Samuel M. Hartzmark & David H. Solomon, 2012. "Efficiency and the Disposition Effect in NFL Prediction Markets," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 2(03), pages 1-42.
    4. Xavier Vives & Giovanni Cespa, 2011. "Higher Order Expectations, Illiquidity, and Short Term Trading," 2011 Meeting Papers 929, Society for Economic Dynamics.
    5. Claeys, Peter & Cimadomo, Jacopo & Poplawski Ribeiro, Marcos, 2014. "How do financial institutions forecast sovereign spreads?," Working Paper Series 1750, European Central Bank.
    6. Giulio Bottazzi & Daniele Giachini, 2016. "Far from the Madding Crowd: Collective Wisdom in Prediction Markets," LEM Papers Series 2016/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.

  14. Marco Ottaviani & Peter Norman Sørensen, 2007. "Aggregation of Information and Beliefs in Prediction Markets," FRU Working Papers 2007/01, University of Copenhagen. Department of Economics. Finance Research Unit.

    Cited by:

    1. Stephanie Wang, 2012. "Speculative Overpricing in Asset Markets with Information Flows," Working Paper 489, Department of Economics, University of Pittsburgh, revised Jan 2012.
    2. John Fountain & Glenn Harrison, 2011. "What do prediction markets predict?," Applied Economics Letters, Taylor & Francis Journals, vol. 18(3), pages 267-272.
    3. Victor Tiberius & Christoph Rasche, 2011. "Prognosemärkte," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 21(4), pages 467-472, April.
    4. Kyle J. Kain & Trevon D. Logan, 2014. "Are Sports Betting Markets Prediction Markets?," Journal of Sports Economics, , vol. 15(1), pages 45-63, February.
    5. Amos Storkey, 2011. "Machine Learning Markets," Papers 1106.4509, arXiv.org.

  15. Banal-Estanol, A. & Ottaviani, M., 2006. "Bank mergers and diversification: implications for competition policy," Working Papers 06/11, Department of Economics, City University London.

    Cited by:

    1. Ullah, Nazim & Mat Nor, Fauzias & Abu Seman, Junaidah & Ainna Binti Ramli, Nur & FADLY, AHMED, 2023. "Mergers and Acquisitions in Islamic Banking Sector: An Empirical Analysis on Size Effect, Market Structure, and Operational," MPRA Paper 118681, University Library of Munich, Germany.
    2. Elena Beccalli & Ludovico Rossi, 2020. "Economies or diseconomies of scope in the EU banking industry?," European Financial Management, European Financial Management Association, vol. 26(5), pages 1261-1293, November.
    3. Sinha, Pankaj & Gupta, Sushant, 2011. "Mergers and Acquisitions: A pre-post analysis for the Indian financial services sector," MPRA Paper 31253, University Library of Munich, Germany.
    4. Carlos Barros & Guglielmo Caporale, 2012. "Banking Consolidation in Nigeria," CEsA Working Papers 99, CEsA - Centre for African and Development Studies.
    5. Guglielmo Maria Caporale & Carlos Pestana Barros, 2013. "Banking Consolidation in Nigeria, 2000-2010," NCID Working Papers 07/2013, Navarra Center for International Development, University of Navarra.
    6. Chiaramonte, Laura & Dreassi, Alberto & Piserà, Stefano & Khan, Ashraf, 2023. "Mergers and acquisitions in the financial industry: A bibliometric review and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Ullah, Nazim & Uddin, Akther, 2018. "Will financial distress lead to banks Merger and Acquisition in Bangladesh?," MPRA Paper 108576, University Library of Munich, Germany, revised 01 Jan 2018.

  16. Orosel, Gerhard O & Ottaviani, Marco & Vesterlund, Lise & Bose, Subir, 2005. "Dynamic Monopoly Pricing and Herding," CEPR Discussion Papers 5003, C.E.P.R. Discussion Papers.

    Cited by:

    1. Philipp Kircher & Andrew Postlewaite, 2008. "Strategic Firms and Endogenous Consumer Emulation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(2), pages 621-661.
    2. Basak, Suleyman & Makarov, Dmitry, 2011. "Strategic Asset Allocation in Money Management," CEPR Discussion Papers 8457, C.E.P.R. Discussion Papers.
    3. Liu, Ting & Schiraldi, Pasquale, 2007. "Social learning and monopolist's product launching strategy," LSE Research Online Documents on Economics 4921, London School of Economics and Political Science, LSE Library.
    4. Wang, Li & Zhang, Xin-Hua & Zhang, Yue-Jun, 2023. "Designing the pricing mechanism of residents’ self-selection sales electricity based on household size," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 860-878.
    5. Nicolás Figueroa & Carla Guadalupi, 2017. "Convincing early adopters: Price signals and Information transmission," Documentos de Trabajo 486, Instituto de Economia. Pontificia Universidad Católica de Chile..
    6. Zegners, Dainis, 2017. "Building an Online Reputation with Free Content: Evidence from the E-book Market," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168293, Verein für Socialpolitik / German Economic Association.
    7. Itai Arieli & Moran Koren & Rann Smorodinsky, 2019. "The Implications of Pricing on Social Learning," Papers 1905.03452, arXiv.org.
    8. Mark Armstrong & Yongmin Chen, 2012. "Discount Pricing," Economics Series Working Papers 605, University of Oxford, Department of Economics.
    9. Gagnon-Bartsch, Tristan & Rosato, Antonio, 2022. "Quality is in the eye of the beholder: taste projection in markets with observational learning," MPRA Paper 115426, University Library of Munich, Germany.
    10. Masaki Aoyagi & Manaswini Bhalla & Hikmet Gunay, 2014. "Social Learning and Delay in a Dynamic Model of Price Competition," ISER Discussion Paper 0909, Institute of Social and Economic Research, Osaka University.
    11. David Gill & Daniel Sgroi, 2011. "The Optimal Choice of Pre-Launch Reviewer," Economics Series Working Papers 562, University of Oxford, Department of Economics.
    12. Alexei Parakhonyak & Nick Vikander, 2013. "Optimal sales schemes for network goods," HSE Working papers WP BRP 41/EC/2013, National Research University Higher School of Economics.
    13. Bar Ifrach & Costis Maglaras & Marco Scarsini, 2012. "Monopoly Pricing in the Presence of Social Learning," Working Papers 12-01, NET Institute, revised Sep 2012.
    14. Arieli, Itai & Koren, Moran & Smorodinsky, Rann, 2022. "The implications of pricing on social learning," Theoretical Economics, Econometric Society, vol. 17(4), November.
    15. Masaki Aoyagi, 2010. "Optimal Sales Schemes against Interdependent Buyers," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 150-182, February.
    16. Manuel Mueller-Frank & Mallesh M. Pai, 2016. "Social Learning with Costly Search," American Economic Journal: Microeconomics, American Economic Association, vol. 8(1), pages 83-109, February.
    17. Zachary Mahone & Filippo Rebessi, 2024. "Observational learning and firm dynamics," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 57(3), pages 989-1027, August.
    18. Ludmila Matyskova & Jan Sipek, 2017. "Manipulation of Cursed Beliefs in Online Reviews," CERGE-EI Working Papers wp586, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    19. Gill, David & Sgroi, Daniel, 2008. "The Optimal Choice of Pre-launch Reviewer: How Best to Transmit Information using Tests and Conditional Pricing," Economic Research Papers 269888, University of Warwick - Department of Economics.
    20. David Gill & Daniel Sgroi & Faculty of Economics and Churchill College & University of Cambridge, 2005. "Sequential Decisions with Tests," Economics Series Working Papers 242, University of Oxford, Department of Economics.
    21. Nicollier, Luciana, 2013. "Reviews, Prices and Endogenous Information Transmission," Economic Research Papers 270430, University of Warwick - Department of Economics.
    22. Kaiwei Zhang & Xi Weng & Xienan Cheng, 2022. "Optimal Pricing Schemes in the Presence of Social Learning and Costly Reporting," Papers 2211.07362, arXiv.org, revised Dec 2023.
    23. Li, Tian & Zhang, Hongtao, 2015. "Information sharing in a supply chain with a make-to-stock manufacturer," Omega, Elsevier, vol. 50(C), pages 115-125.
    24. Parakhonyak, Alexei & Vikander, Nick, 2023. "Information design through scarcity and social learning," Journal of Economic Theory, Elsevier, vol. 207(C).
    25. Weng, Xi, 2015. "Dynamic pricing in the presence of individual learning," Journal of Economic Theory, Elsevier, vol. 155(C), pages 262-299.
    26. Alexei Parakhonyak & Nick Vikander, 2016. "Inducing Herding with Capacity Constraints," Economics Series Working Papers 808, University of Oxford, Department of Economics.
    27. Koren, Moran & Mueller-Frank, Manuel, 2022. "The welfare costs of informationally efficient prices," Games and Economic Behavior, Elsevier, vol. 131(C), pages 186-196.
    28. Christopher J. Ellis & John Fender, 2008. "Democratic Errors," University of Oregon Economics Department Working Papers 2008-2, University of Oregon Economics Department.
    29. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2008. "Monopoly pricing in the binary herding model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 203-241, November.
    30. Daniel Garcia & Sandro Shelegia, 2018. "Consumer search with observational learning," RAND Journal of Economics, RAND Corporation, vol. 49(1), pages 224-253, March.
    31. Ting Liu & Pasquale Schiraldi, 2012. "New product launch: herd seeking or herd preventing?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 627-648, November.
    32. Bar Ifrach & Costis Maglaras & Marco Scarsini & Anna Zseleva, 2019. "Bayesian Social Learning from Consumer Reviews," Operations Research, INFORMS, vol. 67(5), pages 1209-1221, September.
    33. Martín-Rodríguez, María, 2018. "A dynamic monopoly with risk-averse consumers," Information Economics and Policy, Elsevier, vol. 43(C), pages 61-70.

  17. Ottaviani, Marco & Banal-Estanol, Albert, 2005. "Mergers with Product Market Risk," CEPR Discussion Papers 4831, C.E.P.R. Discussion Papers.

    Cited by:

    1. Rosella Nicolini & Francesco Menoncin, 2005. "The optimal behaviour of firms facing stochastic costs," UFAE and IAE Working Papers 640.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    2. Guy Meunier, 2012. "Risk aversion and technology portfolios," Working Papers hal-00763358, HAL.
    3. Duso, Tomaso & Röller, Lars-Hendrik & Seldeslachts, Jo, 2010. "Collusion through Joint R&D: An Empirical Assessment," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 343, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    4. Lisa Anderson & Beth Freeborn & Jason Hulbert, 2012. "Risk Aversion and Tacit Collusion in a Bertrand Duopoly Experiment," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(1), pages 37-50, February.
    5. Wang, Shinn-Shyr & Stiegert, Kyle W. & Dhar, Tirtha P., 2006. "Strategic Pricing Behavior under Asset Value Maximization," Staff Paper Series 495, University of Wisconsin, Agricultural and Applied Economics.
    6. Kurt R. Brekke & Luigi Siciliani & Odd Rune Straume, 2018. "Can Competition Reduce Quality?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 174(3), pages 421-447, September.
    7. Norbäck, Pehr-Johan & Persson, Lars & Tåg, Joacim, 2018. "Does the debt tax shield distort ownership efficiency?," International Review of Economics & Finance, Elsevier, vol. 54(C), pages 299-310.
    8. Norbäck, Pehr-Johan & Persson, Lars & Tåg, Joacim, 2018. "Threatening to buy: Private equity buyouts and antitrust policy," Economics Letters, Elsevier, vol. 164(C), pages 31-34.
    9. Kaniska Dam & Marc Escrihuela-Villar & Santiago Sánchez-Pagés, 2015. "On the relationship between market power and bank risk taking," Journal of Economics, Springer, vol. 114(2), pages 177-204, March.
    10. Guy Meunier, 2013. "Risk aversion and technology mix in an electricity market," Post-Print hal-02646565, HAL.
    11. Albert Banal‐Estañol & Jo Seldeslachts, 2011. "Merger Failures," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 20(2), pages 589-624, June.
    12. Nicolas Pasquier & Olivier Bonroy & Alexis Garapin, 2022. "Risk aversion and equilibrium selection in a vertical contracting setting: an experiment," Theory and Decision, Springer, vol. 93(4), pages 585-614, November.
    13. Ozdenoren, Emre & Yuan, Kathy, 2017. "Contractual externalities and systemic risk," LSE Research Online Documents on Economics 75998, London School of Economics and Political Science, LSE Library.
    14. Banal-Estanol, A. & Ottaviani, M., 2006. "Bank mergers and diversification: implications for competition policy," Working Papers 06/11, Department of Economics, City University London.
    15. Fiocco, Raffaele & Guo, Dongyu, 2020. "Regulatory risk, vertical integration, and upstream investment," MPRA Paper 97960, University Library of Munich, Germany.
    16. Zhu, Jing & Boyaci, Tamer & Ray, Saibal, 2016. "Effects of upstream and downstream mergers on supply chain profitability," European Journal of Operational Research, Elsevier, vol. 249(1), pages 131-143.
    17. M. Pilar Socorro, 2004. "Mergers and the limited liability effect," Documentos de trabajo conjunto ULL-ULPGC 2004-11, Facultad de Ciencias Económicas de la ULPGC.
    18. Persson, Lars & Norbäck, Pehr-Johan & Tåg, Joacim, 2012. "Buying to Sell: Private Equity Buyouts and Industrial Restructuring," CEPR Discussion Papers 8992, C.E.P.R. Discussion Papers.
    19. Soheil Ghili & Matthew Schmitt, 2018. "Risk Aversion and Double Marginalization," Cowles Foundation Discussion Papers 2144, Cowles Foundation for Research in Economics, Yale University.
    20. Aron Berg & Pehr-Johan Norbäck & Lars Persson, 2017. "Cross-border mergers & acquisitions with financially constrained owners," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 153(3), pages 433-456, August.
    21. Lømo, Teis Lunde, 2020. "Vertical control, opportunism, and risk sharing," Economics Letters, Elsevier, vol. 191(C).
    22. Ozdenoren, Emre & Yuan, Kathy, 2015. "Endogenous contractual externalities," LSE Research Online Documents on Economics 65100, London School of Economics and Political Science, LSE Library.
    23. Bunn, Derek W. & Oliveira, Fernando S., 2016. "Dynamic capacity planning using strategic slack valuation," European Journal of Operational Research, Elsevier, vol. 253(1), pages 40-50.
    24. Jeddi, Samir & Lencz, Dominic & Wildgrube, Theresa, 2021. "Complementing carbon prices with Carbon Contracts for Difference in the presence of risk - When is it beneficial and when not?," EWI Working Papers 2021-9, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI), revised 16 Aug 2022.
    25. Lømo, Teis Lunde, 2015. "Risk sharing mitigates opportunism in vertical contracting," Working Papers in Economics 10/15, University of Bergen, Department of Economics.
    26. Frederick Dongchuhl Oh & Junghum Park, 2022. "Managerial incentives and the medium of exchange in takeovers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 4077-4086, December.
    27. Bublitz, Andreas & Keles, Dogan & Zimmermann, Florian & Fraunholz, Christoph & Fichtner, Wolf, 2019. "A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms," Energy Economics, Elsevier, vol. 80(C), pages 1059-1078.

  18. Marco Ottaviani & Peter Norman Sørensen, 2004. "The Timing of Bets and the Favorite-Longshot Bias," FRU Working Papers 2004/12, University of Copenhagen. Department of Economics. Finance Research Unit.

    Cited by:

    1. Jianying Qiu, 2009. "Loss aversion and mental accounting: The favorite-longshot bias in parimutuel betting," Working Papers 2009-15, Faculty of Economics and Statistics, Universität Innsbruck.
    2. Frédéric Koessler & Charles Noussair & Anthony Ziegelmeyer, 2008. "Parimutuel betting under asymmetric information," Post-Print halshs-00754275, HAL.

  19. Ottaviani, Marco & Sørensen, Peter Norman, 2003. "Late Informed Betting and the Favourite-Longshot Bias," CEPR Discussion Papers 4092, C.E.P.R. Discussion Papers.

    Cited by:

    1. Frédéric Koessler & Charles Noussair & Anthony Ziegelmeyer, 2008. "Parimutuel betting under asymmetric information," Post-Print halshs-00754275, HAL.
    2. Restocchi, Valerio & McGroarty, Frank & Gerding, Enrico, 2019. "The temporal evolution of mispricing in prediction markets," Finance Research Letters, Elsevier, vol. 29(C), pages 303-307.

  20. Marco Ottaviani & Francesco Squintani, 2002. "Non-Fully Strategic Information Transmission," Wallis Working Papers WP29, University of Rochester - Wallis Institute of Political Economy.

    Cited by:

    1. Ulrike Malmendier & Devin Shanthikumar, 2004. "Are Investors Naive About Incentives?," NBER Working Papers 10812, National Bureau of Economic Research, Inc.
    2. Ismail Saglam & Mehmet Y. Gurdal & Ayca Ozdogan, 2011. "Truth-telling and Trust in Sender-receiver Games with Intervention," Koç University-TUSIAD Economic Research Forum Working Papers 1123, Koc University-TUSIAD Economic Research Forum.
    3. Joseph Tao-yi Wang & Michael Spezio & Colin F. Camerer, 2006. "Pinocchio's Pupil: Using Eyetracking and Pupil Dilation to Understand Truth-telling and Deception in Games," Levine's Bibliography 321307000000000042, UCLA Department of Economics.
    4. Philippe Jehiel & Frédéric Koessler, 2008. "Revisiting Games of Incomplete Information with Analogy-Based Expectations," PSE-Ecole d'économie de Paris (Postprint) halshs-00754297, HAL.
    5. Ming Li, 2003. "To Disclose or Not to Disclose: Cheap Talk with Uncertain Biases," Working Papers 04003, Concordia University, Department of Economics, revised Aug 2004.
    6. Ulrike Malmendier & Devin Shanthikumar, 2014. "Do Security Analysts Speak in Two Tongues?," The Review of Financial Studies, Society for Financial Studies, vol. 27(5), pages 1287-1322.
    7. Chakraborty, Archishman & Harbaugh, Rick, 2007. "Comparative cheap talk," Journal of Economic Theory, Elsevier, vol. 132(1), pages 70-94, January.
      • Archishman Chakraborty & Rick Harbaugh, 2004. "Comparative Cheap Talk," Working Papers 2004-08, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    8. Marco Battaglini & Uliana Makarov, 2012. "Cheap Talk with Multiple Audiences: an Experimental Analysis," Working Papers 1417, Princeton University, Department of Economics, Econometric Research Program..
    9. Mehmet Gurdal & Ayca Ozdogan & Ismail Saglam, 2014. "Truth-telling and trust in sender–receiver games with intervention: an experimental study," Review of Economic Design, Springer;Society for Economic Design, vol. 18(2), pages 83-103, June.

  21. Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.

    Cited by:

    1. Levy, Gilat, 2004. "Anti-herding and strategic consultation," LSE Research Online Documents on Economics 541, London School of Economics and Political Science, LSE Library.
    2. Houy, Nicolas & Ménager, Lucie, 2008. "Communication, consensus and order. Who wants to speak first?," Journal of Economic Theory, Elsevier, vol. 143(1), pages 140-152, November.

  22. Author One David Harbord & Author Two Marco Ottaviani, 2002. "Anticompetitive Contracts in the U.K. Pay-TV Market," Industrial Organization 0203002, University Library of Munich, Germany.

    Cited by:

    1. Paul Madden & Mario Pezzino, 2013. "Sports League Quality, Broadcaster TV Rights Bids and Wholesale Regulation of Sports Channels," Economics Discussion Paper Series 1304, Economics, The University of Manchester.
    2. David Sappington, 2006. "Regulation in Vertically-Related Industries: Myths, Facts, and Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 28(1), pages 3-16, February.

  23. Author One David Harbord & Author Two Marco Ottaviani, 2002. "Contracts and Competition in the Pay-TV Market," Industrial Organization 0203005, University Library of Munich, Germany.

    Cited by:

    1. Sonia Falconieri & Frederic Palomino & Jozsef Sakovics, 2002. "Collective vs. Individual Sale of TV Rights in League Sports," Edinburgh School of Economics Discussion Paper Series 85, Edinburgh School of Economics, University of Edinburgh.
    2. Evens, Tom, 2010. "Challenging content exclusivity in network industries: the case of digital broadcasting," 21st European Regional ITS Conference, Copenhagen 2010: Telecommunications at new crossroads - Changing value configurations, user roles, and regulation 12, International Telecommunications Society (ITS).
    3. Cincera, Michele & Noury, Abdul, 2004. "Monopoly Practises and Competitive Behaviour in the French Satellite Pay-TV Market," CEPR Discussion Papers 4174, C.E.P.R. Discussion Papers.
    4. Christiaan Hogendorn & Stephen Ka Yat Yuen, 2009. "Platform Competition With ‘Must‐Have’ Components," Journal of Industrial Economics, Wiley Blackwell, vol. 57(2), pages 294-318, June.
    5. Arya, Anil & Mittendorf, Brian & Sappington, David E.M., 2008. "Outsourcing, vertical integration, and price vs. quantity competition," International Journal of Industrial Organization, Elsevier, vol. 26(1), pages 1-16, January.
    6. Stennek, Johan, 2007. "Exclusive Quality - Why Exclusive Distribution May Benefit the TV Viewers," CEPR Discussion Papers 6072, C.E.P.R. Discussion Papers.

  24. Marco Ottaviani & Peter Norman Sorensen, 2001. "The Strategy of Professional Forecasting," Discussion Papers 01-09, University of Copenhagen. Department of Economics.

    Cited by:

    1. Clements, Michael P., 2008. "Explanations of the inconsistencies in survey respondents'forecasts," The Warwick Economics Research Paper Series (TWERPS) 870, University of Warwick, Department of Economics.
    2. Markku Lanne, 2009. "Properties of Market-Based and Survey Macroeconomic Forecasts for Different Data Releases," Economics Bulletin, AccessEcon, vol. 29(3), pages 2231-2240.
    3. Guembel, Alexander & Rossetto, Silvia, 2009. "Reputational cheap talk with misunderstanding," Games and Economic Behavior, Elsevier, vol. 67(2), pages 736-744, November.
    4. Jun Duanmu & Garrett A. McBrayer, 2024. "Structural Drivers of Credit Rating Uncertainty: An Examination of the Changes Imposed by Dodd-Frank," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(2), pages 243-267, June.
    5. Guillermo Ordonez, 2008. "Fragility of Reputation and Clustering in Risk Taking," 2008 Meeting Papers 441, Society for Economic Dynamics.
    6. Batchelor, Roy, 2007. "Bias in macroeconomic forecasts," International Journal of Forecasting, Elsevier, vol. 23(2), pages 189-203.
    7. Doherty, Neil A. & Kartasheva, Anastasia V. & Phillips, Richard D., 2012. "Information effect of entry into credit ratings market: The case of insurers' ratings," Journal of Financial Economics, Elsevier, vol. 106(2), pages 308-330.
    8. Cipullo, Davide & Reslow, André, 2019. "Biased Forecasts to Affect Voting Decisions? The Brexit Case," Working Paper Series 2019:4, Uppsala University, Department of Economics.
    9. Carlos Capistrán-Carmona, 2005. "Bias in Federal Reserve Inflation Forecasts: Is the Federal Reserve Irrational or Just Cautious?," Computing in Economics and Finance 2005 127, Society for Computational Economics.
    10. Phillip E. Pfeifer & Yael Grushka-Cockayne & Kenneth C. Lichtendahl, 2014. "The Promise of Prediction Contests," The American Statistician, Taylor & Francis Journals, vol. 68(4), pages 264-270, November.
    11. Young-Ro Yoon, 2017. "Strategic Disclosure Of Meaningful Information To Rival," Economic Inquiry, Western Economic Association International, vol. 55(2), pages 806-824, April.
    12. Rocco Ciciretti & Gerald P. Dwyer & Iftekhar Hasan, 2009. "Investment analysts' forecasts of earnings," Review, Federal Reserve Bank of St. Louis, vol. 91(Sep), pages 545-568.
    13. Jared Williams, 2013. "Financial Analysts and the False Consensus Effect," Journal of Accounting Research, Wiley Blackwell, vol. 51(4), pages 855-907, September.
    14. Noriyuki Yanagawa, 2008. "Biased Motivation of Experts: Should They be Aggressive or Conservative?," CARF F-Series CARF-F-133, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    15. Karali, Berna & Isengildina Massa, Olga & Irwin, Scott H., 2018. "Does Noise in Market Expectations Dilute Price Reactions to USDA Reports?," 2018 Annual Meeting, August 5-7, Washington, D.C. 273973, Agricultural and Applied Economics Association.
    16. Dick, Christian D. & Schmeling, Maik & Schrimpf, Andreas, 2010. "Macro expectations, aggregate uncertainty, and expected term premia," ZEW Discussion Papers 10-064, ZEW - Leibniz Centre for European Economic Research.
    17. Y. Braouezec, 2010. "Committee, Expert Advice, and the Weighted Majority Algorithm: An Application to the Pricing Decision of a Monopolist," Post-Print hal-00677779, HAL.
    18. Meub, Lukas & Proeger, Till, 2016. "Can anchoring explain biased forecasts? Experimental evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 12(C), pages 1-13.
    19. Mariano, Beatriz, 2012. "Market power and reputational concerns in the ratings industry," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1616-1626.
    20. Wojciech Olszewski & Alvaro Sandroni, 2008. "Manipulability of Future-Independent Tests," Econometrica, Econometric Society, vol. 76(6), pages 1437-1466, November.
    21. Deimen, Inga & Szalay, Dezsö, 2014. "A Smooth, strategic communication," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 479, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    22. Alessandro Acquisti, 2014. "Inducing Customers to Try New Goods," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 44(2), pages 131-146, March.
    23. Meub, Lukas & Proeger, Till & Bizer, Kilian, 2013. "Anchoring: A valid explanation for biased forecasts when rational predictions are easily accessible and well incentivized?," University of Göttingen Working Papers in Economics 166, University of Goettingen, Department of Economics.
    24. Laura Carabotta & Peter Claeys, 2015. "Combine to compete: improving fiscal forecast accuracy over time," UB School of Economics Working Papers 2015/320, University of Barcelona School of Economics.
    25. Veldkamp, Laura & Hellwig, Christian, 2007. "Knowing What Others Know: Coordination Motives in Information Acquisition," CEPR Discussion Papers 6506, C.E.P.R. Discussion Papers.
    26. Marinelli, Carlo & Weissensteiner, Alex, 2014. "On the relation between forecast precision and trading profitability of financial analysts," Journal of Financial Markets, Elsevier, vol. 20(C), pages 39-60.
    27. Timmermann, Allan & Patton, Andrew, 2007. "Learning in Real Time: Theory and Empirical Evidence from the Term Structure of Survey Forecasts," CEPR Discussion Papers 6526, C.E.P.R. Discussion Papers.
    28. Ruiz-Verdú, Pablo & Singh, Ravi, 2014. "Board Independence, CEO Pay, and Camouflaged Compensation," DEE - Working Papers. Business Economics. WB wb140704, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    29. Satopää, Ville A., 2021. "Improving the wisdom of crowds with analysis of variance of predictions of related outcomes," International Journal of Forecasting, Elsevier, vol. 37(4), pages 1728-1747.
    30. Aleksei Smirnov & Egor Starkov, 2019. "Timing of predictions in dynamic cheap talk: experts vs. quacks," ECON - Working Papers 334, Department of Economics - University of Zurich.
    31. Oleksiy Kryvtsov & Luba Petersen, 2019. "Central Bank Communication That Works: Lessons from Lab Experiments," Staff Working Papers 19-21, Bank of Canada.
    32. Timmermann Allan & Capistrán Carlos, 2006. "Disagreement and Biases in Inflation Expectations," Working Papers 2006-07, Banco de México.
    33. Mokinski, Frieder, 2016. "Using time-stamped survey responses to measure expectations at a daily frequency," International Journal of Forecasting, Elsevier, vol. 32(2), pages 271-282.
    34. Campbell, Sean D. & Sharpe, Steven A., 2009. "Anchoring Bias in Consensus Forecasts and Its Effect on Market Prices," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(2), pages 369-390, April.
    35. Chen, Qiwei & Costantini, Mauro & Deschamps, Bruno, 2016. "How accurate are professional forecasts in Asia? Evidence from ten countries," International Journal of Forecasting, Elsevier, vol. 32(1), pages 154-167.
    36. Mr. Christopher W. Crowe & Ellen E. Meade, 2008. "Central Bank Independence and Transparency: Evolution and Effectiveness," IMF Working Papers 2008/119, International Monetary Fund.
    37. Nikolaus Hautsch & Dieter Hess & Christoph Müller, 2008. "Price Adjustment to News with Uncertain Precision," FRU Working Papers 2008/01, University of Copenhagen. Department of Economics. Finance Research Unit.
    38. Artūras Juodis & Simas Kučinskas, 2023. "Quantifying noise in survey expectations," Quantitative Economics, Econometric Society, vol. 14(2), pages 609-650, May.
    39. Lindner, Axel & Heinisch, Katja, 2019. "Economic Sentiment in Europe: Disentangling Private Information from Public Knowledge," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203501, Verein für Socialpolitik / German Economic Association.
    40. Bar-Isaac Heski, 2012. "Transparency, Career Concerns, and Incentives for Acquiring Expertise," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 12(1), pages 1-15, January.
    41. Francesc Dilmé, 2022. "Strategic Communication With a Small Conflict of Interest," CRC TR 224 Discussion Paper Series crctr224_2022_344, University of Bonn and University of Mannheim, Germany.
    42. Francesca Pancotto & Giuseppe Pignataro & Davide Raggi, 2015. "Social Learning and Higher Order Beliefs: A Structural Model of Exchange Rates Dynamics," LEM Papers Series 2015/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    43. Alex Cukierman & Thomas Lustenberger, 2018. "International Evidence on Professional Interest Rate Forecasts: The Impact of Forecasting Ability," Working Papers 2018-10, Swiss National Bank.
    44. Bruno Deschamps & Christos Ioannidis, 2014. "The Efficiency of Multivariate Macroeconomic Forecasts," Manchester School, University of Manchester, vol. 82(5), pages 509-523, September.
    45. Rybacki Jakub, 2020. "Macroeconomic forecasting in Poland: The role of forecasting competitions," Central European Economic Journal, Sciendo, vol. 7(54), pages 1-11, January.
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    92. Jin Yeub Kim & Yongjun Kim & Myungkyu Shim, 2023. "Do Financial Analysts Herd?," Global Economic Review, Taylor & Francis Journals, vol. 52(3), pages 202-219, July.
    93. Michael Clements, 2016. "Are Macro-Forecasters Essentially The Same? An Analysis of Disagreement, Accuracy and Efficiency," ICMA Centre Discussion Papers in Finance icma-dp2016-08, Henley Business School, University of Reading.
    94. De Rezende, Rafael B., 2015. "Risks in macroeconomic fundamentals and excess bond returns predictability," Working Paper Series 295, Sveriges Riksbank (Central Bank of Sweden).
    95. Luis E. Rojas, 2011. "Professional Forecasters: How to Understand and Exploit Them Through a DSGE Model," Borradores de Economia 664, Banco de la Republica de Colombia.
    96. MacDonald, Ronald & Nagayasu, Jun, 2015. "Currency forecast errors and carry trades at times of low interest rates: Evidence from survey data on the yen/dollar exchange rate," Journal of International Money and Finance, Elsevier, vol. 53(C), pages 1-19.
    97. Clements, Michael P., 2006. "Internal consistency of survey respondentsíforecasts: Evidence based on the Survey of Professional Forecasters," Economic Research Papers 269742, University of Warwick - Department of Economics.
    98. Andrew Bauer & Robert A. Eisenbeis & Daniel F. Waggoner & Tao Zha, 2003. "Forecast evaluation with cross-sectional data: The Blue Chip Surveys," Economic Review, Federal Reserve Bank of Atlanta, vol. 88(Q2), pages 17-31.
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    100. Cem Peker, 2023. "Extracting the collective wisdom in probabilistic judgments," Theory and Decision, Springer, vol. 94(3), pages 467-501, April.
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    102. Zhi Da & Xing Huang, 2020. "Harnessing the Wisdom of Crowds," Management Science, INFORMS, vol. 66(5), pages 1847-1867, May.
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    104. F. Pancotto & G. Pignataro & D. Raggi, 2014. "Higher order beliefs and the dynamics of exchange rates," Working Papers wp957, Dipartimento Scienze Economiche, Universita' di Bologna.
    105. Christian Breuer, 2014. "On the Rationality of Medium-Term Tax Revenue Forecasts: Evidence from Germany," ifo Working Paper Series 176, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    106. Dan Bernhardt & Chi Wan & Zhijie Xiao, 2016. "The Reluctant Analyst," Journal of Accounting Research, Wiley Blackwell, vol. 54(4), pages 987-1040, September.
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    108. Kohei Kawamura, 2015. "Confidence and competence in communication," Theory and Decision, Springer, vol. 78(2), pages 233-259, February.
    109. Nolan Miller & Paul Resnick & Richard Zeckhauser, 2005. "Eliciting Informative Feedback: The Peer-Prediction Method," Management Science, INFORMS, vol. 51(9), pages 1359-1373, September.
    110. Elena Panova, 2009. "Confirmatory News," Cahiers de recherche 0912, CIRPEE.
    111. Qiu, Yajie & Deschamps, Bruno & Liu, Xiaoquan, 2024. "Uncertainty and macroeconomic forecasts: Evidence from survey data," Journal of Economic Behavior & Organization, Elsevier, vol. 224(C), pages 463-480.
    112. Weissensteiner, Alex, 2019. "Correlated noise: Why passive investment might improve market efficiency," Journal of Economic Behavior & Organization, Elsevier, vol. 158(C), pages 158-172.
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    114. Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.
    115. Lea Heursen & Svenja Friess & Marina Chugunova, 2023. "Reputational Concerns and Advice-Seeking at Work," Rationality and Competition Discussion Paper Series 447, CRC TRR 190 Rationality and Competition.
    116. Pierdzioch, Christian & Rülke, Jan-Christoph & Stadtmann, Georg, 2013. "A note on forecasting the prices of gold and silver: Asymmetric loss and forecast rationality," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(3), pages 294-301.
    117. Luiz Félix & Roman Kräussl & Philip Stork, 2021. "Strategic bias and popularity effect in the prediction of economic surprises," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 40(6), pages 1095-1117, September.
    118. Christian Hellwig, 2005. "Knowing What Others Know: Coordination Motives in Information Acquisition (March 2007, with Laura Veldkamp)," UCLA Economics Online Papers 369, UCLA Department of Economics.
    119. 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.
    120. Kenneth C. Lichtendahl & Yael Grushka-Cockayne & Phillip E. Pfeifer, 2013. "The Wisdom of Competitive Crowds," Operations Research, INFORMS, vol. 61(6), pages 1383-1398, December.
    121. Yael Grushka-Cockayne & Victor Richmond R. Jose & Kenneth C. Lichtendahl Jr., 2017. "Ensembles of Overfit and Overconfident Forecasts," Management Science, INFORMS, vol. 63(4), pages 1110-1130, April.
    122. Keppo, Jussi & Satopää, Ville A., 2024. "Bayesian herd detection for dynamic data," International Journal of Forecasting, Elsevier, vol. 40(1), pages 285-301.
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    124. Noriyuki Yanagawa, 2008. "Biased Motivation of Experts: Should They be Aggressive or Conservative?," CIRJE F-Series CIRJE-F-585, CIRJE, Faculty of Economics, University of Tokyo.
    125. Bizer, Kilian & Meub, Lukas & Proeger, Till & Spiwoks, Markus, 2014. "Strategic coordination in forecasting: An experimental study," University of Göttingen Working Papers in Economics 195, University of Goettingen, Department of Economics.
    126. Ralf Fendel & Michael Frenkel & Jan-Christoph Rülke, 2013. "Do professional forecasters trust in Taylor-type rules? -- Evidence from the Wall Street Journal poll," Applied Economics, Taylor & Francis Journals, vol. 45(7), pages 829-838, March.
    127. Greiner, Ben & Grünwald, Philipp & Lindner, Thomas & Lintner, Georg & Wiernsperger, Martin, 2024. "Incentives, Framing, and Reliance on Algorithmic Advice: An Experimental Study," Department for Strategy and Innovation Working Paper Series 01/2024, WU Vienna University of Economics and Business.
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  25. Marco Ottaviani, 2000. "The Value of Public Information in Monopoly," Econometric Society World Congress 2000 Contributed Papers 1479, Econometric Society.

    Cited by:

    1. Feess, E. & Walzl, M., 2006. "Why it pays to conceal - on the optimal timing of acquiring verifiable information," Research Memorandum 020, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    2. Frédéric Koessler & Vassiliki Skreta, 2016. "Informed seller with taste heterogeneity," PSE-Ecole d'économie de Paris (Postprint) halshs-01379293, HAL.
    3. Giuseppe Moscarini & Marco Ottaviani, 1998. "Price Competition for an Informed Buyer," Cowles Foundation Discussion Papers 1199, Cowles Foundation for Research in Economics, Yale University.
    4. Juan José Ganuza, 2003. "Ignorance promotes competition: An auction model with endogenous private valuations," Economics Working Papers 671, Department of Economics and Business, Universitat Pompeu Fabra.
    5. Vasiliki Skreta, 2007. "On the Informed Seller Problem: Optimal Information Disclosure," Levine's Bibliography 122247000000001789, UCLA Department of Economics.
    6. Saak, Alexander E., 2006. "The optimal private information in single unit monopoly," Economics Letters, Elsevier, vol. 91(2), pages 267-272, May.
    7. Ángel Hernando Veciana & Michael Tröge, 2005. "The Insider'S Curse," Working Papers. Serie AD 2005-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    8. Xinyan Shi, 2013. "Information disclosure and vaccination externalities," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(3), pages 229-243, September.
    9. Fernando Branco & Monic Sun & J. Miguel Villas-Boas, 2012. "Optimal Search for Product Information," Management Science, INFORMS, vol. 58(11), pages 2037-2056, November.
    10. Steven M. Shugan, 2002. "Editorial: Marketing Science, Models, Monopoly Models, and Why We Need Them," Marketing Science, INFORMS, vol. 21(3), pages 223-228.
    11. Saak, Alexander E., 2011. "A Model of Labeling with Horizontal Differentiation and Cost Variability," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103540, Agricultural and Applied Economics Association.
    12. Adriani, Fabrizio & Deidda, Luca G., 2009. "Price signaling and the strategic benefits of price rigidities," Games and Economic Behavior, Elsevier, vol. 67(2), pages 335-350, November.
    13. Peter Eso & Balazs Szentes, 2003. "The One Who Controls the Information Appropriates Its Rents," Discussion Papers 1369, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    14. David Gill & Daniel Sgroi, 2011. "The Optimal Choice of Pre-Launch Reviewer," Economics Series Working Papers 562, University of Oxford, Department of Economics.
    15. Rosar, Frank, 2017. "Test design under voluntary participation," Games and Economic Behavior, Elsevier, vol. 104(C), pages 632-655.
    16. Ennio Bilancini & Leonardo Boncinelli, 2014. "Dynamic Adverse Selection and the Supply Size," Department of Economics (DEMB) 0034, University of Modena and Reggio Emilia, Department of Economics "Marco Biagi".
    17. Justin P. Johnson & David P. Myatt, 2006. "On the Simple Economics of Advertising, Marketing, and Product Design," American Economic Review, American Economic Association, vol. 96(3), pages 756-784, June.
    18. Alexei Parakhonyak & Nick Vikander, 2013. "Optimal sales schemes for network goods," HSE Working papers WP BRP 41/EC/2013, National Research University Higher School of Economics.
    19. Alexander Saak, 2007. "A note on the value of public information in monopoly," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 33(2), pages 369-379, November.
    20. Masaki Aoyagi, 2010. "Optimal Sales Schemes against Interdependent Buyers," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 150-182, February.
    21. Gill, David & Sgroi, Daniel, 2008. "The Optimal Choice of Pre-launch Reviewer: How Best to Transmit Information using Tests and Conditional Pricing," Economic Research Papers 269888, University of Warwick - Department of Economics.
    22. David Gill & Daniel Sgroi & Faculty of Economics and Churchill College & University of Cambridge, 2005. "Sequential Decisions with Tests," Economics Series Working Papers 242, University of Oxford, Department of Economics.
    23. Einy, Ezra & Moreno, Diego & Shitovitz, Benyamin, 2003. "The value of public information in a Cournot duopoly," Games and Economic Behavior, Elsevier, vol. 44(2), pages 272-285, August.
    24. Dirk Bergemann & Alessandro Bonatti & Alex Smolin, 2017. "The Design and Price of Information," Cowles Foundation Discussion Papers 2049R, Cowles Foundation for Research in Economics, Yale University.
    25. Jaesoo Kim & Dongsoo Shin, 2016. "Price Discrimination with Demarketing," Journal of Industrial Economics, Wiley Blackwell, vol. 64(4), pages 773-807, December.
    26. Dirk Bergemann & Alessandro Bonatti & Alex Smolin, 2014. "Selling Experiments: Menu Pricing of Information," Cowles Foundation Discussion Papers 1952, Cowles Foundation for Research in Economics, Yale University.
    27. Saak, Alexander E., 2009. "Private information in monopoly with random participation," Economics Letters, Elsevier, vol. 102(2), pages 67-69, February.
    28. Jeremy Bertomeu & Davide Cianciaruso, 2018. "Verifiable disclosure," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 1011-1044, June.
    29. Silvia Martinez-Gorricho, 2020. "Signalling, Information and Consumer Fraud," Games, MDPI, vol. 11(3), pages 1-25, July.
    30. Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.
    31. Fernando Branco & Monic Sun & J. Miguel Villas-Boas, 2016. "Too Much Information? Information Provision and Search Costs," Marketing Science, INFORMS, vol. 35(4), pages 605-618, July.
    32. Saak, Alexander E., 2016. "Optimal provision of information about consumption choices in the presence of a cognitive constraint," Economics Letters, Elsevier, vol. 145(C), pages 25-28.
    33. Creane, Anthony, 2007. "Productivity information in vertical sharing agreements," International Journal of Industrial Organization, Elsevier, vol. 25(4), pages 821-841, August.
    34. Saak, Alexander E., 2006. "The value of buyer's ignorance in monopoly," Economics Letters, Elsevier, vol. 90(3), pages 373-377, March.
    35. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2008. "Monopoly pricing in the binary herding model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 203-241, November.
    36. F. Adriani & LG Deidda, 2006. "The Monopolist's Blues," Working Paper CRENoS 200611, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    37. Ting Liu & Pasquale Schiraldi, 2012. "New product launch: herd seeking or herd preventing?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 627-648, November.
    38. Fang, Hanming & Parreiras, Sergio O., 2003. "On the failure of the linkage principle with financially constrained bidders," Journal of Economic Theory, Elsevier, vol. 110(2), pages 374-392, June.

  26. Marco Ottaviani & Peter Sorensen, 1999. "Professional Advice," Game Theory and Information 9906003, University Library of Munich, Germany.

    Cited by:

    1. Prat, Andrea, 2003. "The Wrong Kind of Transparency," CEPR Discussion Papers 3859, C.E.P.R. Discussion Papers.
    2. Huihui Ding & Marcus Pivato, 2021. "Deliberation and epistemic democracy," Post-Print hal-03637874, HAL.
    3. Guembel, Alexander & Rossetto, Silvia, 2009. "Reputational cheap talk with misunderstanding," Games and Economic Behavior, Elsevier, vol. 67(2), pages 736-744, November.
    4. Li, Ming & Madarász, Kristóf, 2008. "When mandatory disclosure hurts: Expert advice and conflicting interests," Journal of Economic Theory, Elsevier, vol. 139(1), pages 47-74, March.
    5. Doherty, Neil A. & Kartasheva, Anastasia V. & Phillips, Richard D., 2012. "Information effect of entry into credit ratings market: The case of insurers' ratings," Journal of Financial Economics, Elsevier, vol. 106(2), pages 308-330.
    6. David Johnstone, 2007. "Economic Darwinism: Who has the Best Probabilities?," Theory and Decision, Springer, vol. 62(1), pages 47-96, February.
    7. Botond Koszegi & Wei Li, 2002. "Ambition and Talent," CERS-IE WORKING PAPERS 0214, Institute of Economics, Centre for Economic and Regional Studies.
    8. Marco Ottaviani & Peter Norman Sorensen, 2001. "The Strategy of Professional Forecasting," Discussion Papers 01-09, University of Copenhagen. Department of Economics.
    9. Y. Braouezec, 2010. "Committee, Expert Advice, and the Weighted Majority Algorithm: An Application to the Pricing Decision of a Monopolist," Post-Print hal-00677779, HAL.
    10. Mariano, Beatriz, 2012. "Market power and reputational concerns in the ratings industry," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1616-1626.
    11. Meade, Ellen E. & Stasavage, David, 2004. "Publicity of debate and the incentive to dissent: evidence from the US federal reserve," LSE Research Online Documents on Economics 19994, London School of Economics and Political Science, LSE Library.
    12. Amil Dasgupta & Andrea Prat, 2005. "Reputation and Asset Prices: A Theory of Information Cascades and Systematic Mispricing," Levine's Bibliography 784828000000000368, UCLA Department of Economics.
    13. Deimen, Inga & Szalay, Dezsö, 2014. "A Smooth, strategic communication," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 479, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    14. Mikhail Golosov, 2009. "Dynamic Strategic Information Transmission," 2009 Meeting Papers 181, Society for Economic Dynamics.
    15. Ming Li, 2003. "To Disclose or Not to Disclose: Cheap Talk with Uncertain Biases," Working Papers 04003, Concordia University, Department of Economics, revised Aug 2004.
    16. Ascensión Andina Díaz & José A. García-Martínez, 2016. "A careerist judge with two concerns," Working Papers 2016-02, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    17. Liu, Yaozhou Franklin & Sanyal, Amal, 2010. "When second opinions hurt: a model of expert advice under career concerns," MPRA Paper 27176, University Library of Munich, Germany.
    18. Miriam Schütte & Philipp C. Wichardt, 2012. "Delegation in Long-Term Relationships," SOEPpapers on Multidisciplinary Panel Data Research 480, DIW Berlin, The German Socio-Economic Panel (SOEP).
    19. LI, Ming & MYLOVANOV, Tymofiy, 2010. "Credibility for Sale - The Effect of Disclosure on Information Acquisition and Transmission," Cahiers de recherche 08-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    20. Dino Gerardi & Richard McLean & Andrew Postlewaite, 2005. "Aggregation of Expert Opinions," Cowles Foundation Discussion Papers 1503, Cowles Foundation for Research in Economics, Yale University.
    21. Ying Chen & Sidartha Gordon, 2015. "Information transmission in nested sender–receiver games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(3), pages 543-569, April.
    22. Calcagno, Riccardo & Monticone, Chiara, 2015. "Financial literacy and the demand for financial advice," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 363-380.
    23. Roger Lagunoff & Dino Gerardi & Luca Anderlini, 2008. "Communication and Learning," Working Papers gueconwpa~08-08-01, Georgetown University, Department of Economics.
    24. Ralph Boleslavsky & Tracy R. Lewis, 2011. "Advocacy and Dynamic Delegation," Working Papers 2011-7, University of Miami, Department of Economics.
    25. Bar-Isaac Heski, 2012. "Transparency, Career Concerns, and Incentives for Acquiring Expertise," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 12(1), pages 1-15, January.
    26. Irene Valsecchi, 2013. "Non-uniqueness of equilibrium action profiles with equal size in one-shot cheap-talk games," Theory and Decision, Springer, vol. 74(1), pages 31-53, January.
    27. Szalay, Dezsö & Deimen, Inga, 2016. "Information, Authority, And Smooth Communication In Organizations," VfS Annual Conference 2016 (Augsburg): Demographic Change 145668, Verein für Socialpolitik / German Economic Association.
    28. Jean‐Pierre Benoît & Juan Dubra, 2013. "On The Problem Of Prevention," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 787-805, August.
    29. Catonini, Emiliano & Stepanov, Sergey, 2023. "Reputation and information aggregation," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 156-173.
    30. Di Maggio, Marco, 2009. "Accountability and Cheap Talk," MPRA Paper 18652, University Library of Munich, Germany.
    31. Bourjade, Sylvain & Jullien, Bruno, 2004. "Expertise and Bias in Decision Making," MPRA Paper 7251, University Library of Munich, Germany, revised Jan 2007.
    32. Matthew Gentzkow & Jesse M. Shapiro, 2006. "Media Bias and Reputation," Journal of Political Economy, University of Chicago Press, vol. 114(2), pages 280-316, April.
    33. Jia Xie, 2019. "The Optimal Selling Strategy of Residential Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 59(3), pages 461-489, October.
    34. Schottmüller, Christoph, 2019. "Too good to be truthful: Why competent advisers are fired," Journal of Economic Theory, Elsevier, vol. 181(C), pages 333-360.
    35. Daron Acemoglu & Victor Chernozhukov & Muhamet Yildiz, 2007. "Learning and Disagreement in an Uncertain World," Carlo Alberto Notebooks 48, Collegio Carlo Alberto.
    36. Sibert, Anne & Sabourian, Hamid, 2009. "Banker Compensation and Confirmation Bias," CEPR Discussion Papers 7263, C.E.P.R. Discussion Papers.
    37. Prat, Andrea & Dasgupta, Amil, 2003. "Trading Volume with Career Concerns," CEPR Discussion Papers 4034, C.E.P.R. Discussion Papers.
    38. Bourjade, Sylvain & Jullien, Bruno, 2011. "The roles of reputation and transparency on the behavior of biased experts," MPRA Paper 34813, University Library of Munich, Germany.
    39. Hong, Harrison & Scheinkman, José & Xiong, Wei, 2008. "Advisors and asset prices: A model of the origins of bubbles," Journal of Financial Economics, Elsevier, vol. 89(2), pages 268-287, August.
    40. Kim-Sau Chung & Peter Eso, 2007. "Signalling with Career Concerns," Discussion Papers 1443, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    41. Dasgupta, Amil & Prat, Andrea, 2008. "Information aggregation in financial markets with career concerns," Journal of Economic Theory, Elsevier, vol. 143(1), pages 83-113, November.
    42. Anke Gerber & Corina Haita‐Falah & Andreas Lange, 2018. "The Agency Of Politics And Science," Economic Inquiry, Western Economic Association International, vol. 56(3), pages 1543-1561, July.
    43. Alcalde, Pilar & Vial, Bernardita, 2022. "Implicit trade‐offs in replacement rates: Consumer preferences for firms, intermediaries and annuity attributes," International Journal of Industrial Organization, Elsevier, vol. 82(C).
    44. Martimort, David & Gromb, Denis, 2004. "The Organization of Delegated Expertise," CEPR Discussion Papers 4572, C.E.P.R. Discussion Papers.
    45. Paul Heidhues & Johan Lagerlöf, 2000. "Hiding Information in Electoral Competition," CIG Working Papers FS IV 00-06, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Feb 2002.
    46. Henry Cao & David Hirshleifer, 2004. "Taking the Road Less Traveled: Does Conversation Eradicate Pernicious Cascades?," Game Theory and Information 0412001, University Library of Munich, Germany.
    47. Rudiger, Jesper & Vigier, Adrien, 2013. "Financial Experts, Asset Prices and Reputation," MPRA Paper 51784, University Library of Munich, Germany.
    48. Grunewald, Andreas & Kräkel, Matthias, 2017. "Fake News," IZA Discussion Papers 11207, Institute of Labor Economics (IZA).
    49. Ascensión Andina-Díaz, 2015. "Competition and uncertainty in a paper’s news desk," Journal of Economics, Springer, vol. 116(1), pages 77-93, September.
    50. Sinkey, Michael, 2015. "How do experts update beliefs? Lessons from a non-market environment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 57(C), pages 55-63.
    51. Andrea Prat & Amil Dasgupta, 2005. "Reputation and Price Dynamics in Financial Markets," 2005 Meeting Papers 222, Society for Economic Dynamics.
    52. Foerster, Manuel & Voss, Achim, 2022. "Believe me, I am ignorant, but not biased," European Economic Review, Elsevier, vol. 149(C).
    53. Gilat Levy, 2000. "Strategic Consultation in the Presence of Career Concerns," STICERD - Theoretical Economics Paper Series 404, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    54. Glazer, Jacob & McGuire, Thomas G. & Newhouse, Joseph P., 2007. "Using performance measures to motivate `report-averse' and `report-loving' agents," Journal of Health Economics, Elsevier, vol. 26(6), pages 1170-1189, December.
    55. Elisabeth Schulte & Mike Felgenhauer, 2015. "Preselection and Expert Advice," MAGKS Papers on Economics 201524, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    56. In-Uck Park, 2000. "Cheap Talk Reputation and Coordination of Differentiated Experts," Econometric Society World Congress 2000 Contributed Papers 1680, Econometric Society.
    57. Anbarci, Nejat & Ghosh, Saptarshi P. & Roy, Jaideep, 2017. "Information control in reputational cheap talk," Games and Economic Behavior, Elsevier, vol. 106(C), pages 153-160.
    58. Wei Li, 2004. "Mind Changes in the Design of Reporting Protocols," Theory workshop papers 658612000000000085, UCLA Department of Economics.
    59. Atakan, Alp & Koçkesen, Levent & Kubilay, Elif, 2020. "Starting small to communicate," Games and Economic Behavior, Elsevier, vol. 121(C), pages 265-296.
    60. Dasgupta, Amil & Sarafidis, Yianis, 2009. "Managers as administrators: Reputation and incentives," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 155-163, May.
    61. Miriam Schütte & Philipp Christoph Wichardt, 2013. "Delegation and Interim Performance Evaluation," CESifo Working Paper Series 4193, CESifo.
    62. Bruno Jullien & In-Uck Park, 2014. "New, Like New, or Very Good? Reputation and Credibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(4), pages 1543-1574.
    63. Ghosh, Saptarshi P. & Roy, Jaideep, 2015. "Committees with leaks," Games and Economic Behavior, Elsevier, vol. 90(C), pages 207-214.
    64. Marcoul, Philippe, 2003. "A Theory of Advice Based on Information Search Incentives," Staff General Research Papers Archive 10357, Iowa State University, Department of Economics.
    65. Renato Camodeca & Alex Almici & Umberto Sagliaschi, 2018. "Sustainability Disclosure in Integrated Reporting: Does It Matter to Investors? A Cheap Talk Approach," Sustainability, MDPI, vol. 10(12), pages 1-34, November.
    66. Andrea Leuermann & Benjamin Roth, 2012. "Does Good Advice Come Cheap?: On the Assessment of Risk Preferences in the Lab and in the Field," SOEPpapers on Multidisciplinary Panel Data Research 475, DIW Berlin, The German Socio-Economic Panel (SOEP).
    67. Admati, Anat R. & Pfleiderer, Paul C., 2001. "Noisytalk.com: Broadcasting Opinions in a Noisy Environment," Research Papers 1670r, Stanford University, Graduate School of Business.
    68. Elena Panova, 2009. "Confirmatory News," Cahiers de recherche 0912, CIRPEE.
    69. Leuermann, Andrea & Roth, Benjamin, 2012. "Does good advice come cheap? - On the assessment of risk preferences in the lab and the field," Working Papers 0534, University of Heidelberg, Department of Economics.
    70. Yoon, Young-Ro, 2015. "Strategic behavior in acquiring and revealing costly private information," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 133-148.
    71. Raghuram Iyengar & Andrew Schotter, 2008. "Learning under supervision: an experimental study," Experimental Economics, Springer;Economic Science Association, vol. 11(2), pages 154-173, June.
    72. Hvide, Hans K., 2004. "A Theory of Certification with an Application to the Market for Auditing Services," Discussion Papers 2004/10, Norwegian School of Economics, Department of Business and Management Science.
    73. Chung, Kim-Sau & Eső, Péter, 2013. "Persuasion and learning by countersignaling," Economics Letters, Elsevier, vol. 121(3), pages 487-491.
    74. Tsung-Sheng Tsai & Yasunari Tamada, 2004. "Allocation of Decision-Making Authority with Principal's Reputation Concerns," Econometric Society 2004 Far Eastern Meetings 701, Econometric Society.
    75. Klein, Nicolas & Mylovanov, Tymofiy, 2017. "Will truth out?—An advisor’s quest to appear competent," Journal of Mathematical Economics, Elsevier, vol. 72(C), pages 112-121.
    76. Barthel, Anne-Christine & Lei, Shan, 2021. "Investment in financial literacy and financial advice-seeking: Substitutes or complements?," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 385-396.
    77. Meub, Lukas & Proeger, Till & Bizer, Kilian & Spiwoks, Markus, 2015. "Strategic coordination in forecasting – An experimental study," Finance Research Letters, Elsevier, vol. 13(C), pages 155-162.
    78. Noriyuki Yanagawa, 2008. "Biased Motivation of Experts: Should They be Aggressive or Conservative?," CIRJE F-Series CIRJE-F-585, CIRJE, Faculty of Economics, University of Tokyo.
    79. Peter Thompson & Jing Chen, 2011. "Disagreements, employee spinoffs and the choice of technology," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 455-474, July.
    80. Bizer, Kilian & Meub, Lukas & Proeger, Till & Spiwoks, Markus, 2014. "Strategic coordination in forecasting: An experimental study," University of Göttingen Working Papers in Economics 195, University of Goettingen, Department of Economics.
    81. Hidir, Sinem, 2017. "Information Acquisition and Credibility in Cheap Talk," CRETA Online Discussion Paper Series 36, Centre for Research in Economic Theory and its Applications CRETA.
    82. Harrison Hong & Jose Scheinkman & Wei Xiong, 2005. "Advisors and Asset Prices: A Model of the Origins of Bubbles," Levine's Bibliography 122247000000001003, UCLA Department of Economics.
    83. Junghun Cho, 2006. "Multiple Advisors with Reputation," CERGE-EI Working Papers wp314, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    84. Fu, Qiang & Li, Ming, 2014. "Reputation-concerned policy makers and institutional status quo bias," Journal of Public Economics, Elsevier, vol. 110(C), pages 15-25.
    85. Marinovic, Iván & Ottaviani, Marco & Sorensen, Peter, 2013. "Forecasters’ Objectives and Strategies," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 690-720, Elsevier.

  27. Giuseppe Moscarini & Marco Ottaviani, 1998. "Price Competition for an Informed Buyer," Cowles Foundation Discussion Papers 1199, Cowles Foundation for Research in Economics, Yale University.

    Cited by:

    1. Chia-Hui Chen & Junichiro Ishida, 2013. "Auctions Versus Negotiations: The Role of Price Discrimination," ISER Discussion Paper 0873, Institute of Social and Economic Research, Osaka University.
    2. Orosel, Gerhard O & Ottaviani, Marco & Vesterlund, Lise & Bose, Subir, 2005. "Dynamic Monopoly Pricing and Herding," CEPR Discussion Papers 5003, C.E.P.R. Discussion Papers.
    3. Amir Ban & Moran Koren, 2020. "Sequential Fundraising and Mutual Insurance," Papers 2005.10711, arXiv.org, revised Dec 2021.
    4. Giuseppe Moscarini & Marco Ottaviani, 1998. "Price Competition for an Informed Buyer," Cowles Foundation Discussion Papers 1199, Cowles Foundation for Research in Economics, Yale University.
    5. Schuler, Sebastian, 2020. "Capping Commissions in the Presence of Price Competition," MPRA Paper 104867, University Library of Munich, Germany.
    6. Juan-José Ganuza & José S. Penalva, 2005. "On Information and Competition in Private Value Auctions," Working Papers 158, Barcelona School of Economics.
    7. Juan José Ganuza, 2003. "Ignorance promotes competition: An auction model with endogenous private valuations," Economics Working Papers 671, Department of Economics and Business, Universitat Pompeu Fabra.
    8. Saak, Alexander E., 2006. "The optimal private information in single unit monopoly," Economics Letters, Elsevier, vol. 91(2), pages 267-272, May.
    9. Il-Horn Hann & Kai-Lung Hui & Sang-Yong Tom Lee & Ivan P.L. Png, 2005. "Sales and Promotions: A More General Model," Industrial Organization 0508014, University Library of Munich, Germany.
    10. Armstrong, Mark & Zhou, Jidong, 2021. "Consumer Information and the Limits to Competition," MPRA Paper 108395, University Library of Munich, Germany.
    11. Hoppe-Wewetzer, Heidrun C. & Lehmann-Grube, Ulrich, 2007. "Price Competition in Markets with Customer Testing: The Captive Customer Effect," CEPR Discussion Papers 6229, C.E.P.R. Discussion Papers.
    12. Zhou, Jidong, 2021. "Mixed bundling in oligopoly markets," Journal of Economic Theory, Elsevier, vol. 194(C).
    13. Saak, Alexander E., 2011. "A Model of Labeling with Horizontal Differentiation and Cost Variability," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103540, Agricultural and Applied Economics Association.
    14. Forand, Jean Guillaume, 2013. "Competing through information provision," International Journal of Industrial Organization, Elsevier, vol. 31(5), pages 438-451.
    15. Kean Siang Ch’Ng & Suet Leng Khoo, 2015. "Market Mechanisms To Allocate Heritage Conservation Fund: An Experimental Study," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 60(05), pages 1-19, December.
    16. Olivier Body, 2014. "Costly and Truthful Communication: Two Alternative Objectives," Working Papers ECARES ECARES 2014-10, ULB -- Universite Libre de Bruxelles.
    17. J. Miguel Villas‐Boas, 2006. "Dynamic Competition with Experience Goods," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(1), pages 37-66, March.
    18. Roman Inderst & Marco Ottaviani, 2012. "Competition through Commissions and Kickbacks," American Economic Review, American Economic Association, vol. 102(2), pages 780-809, April.
    19. Giovanni Dell'Ariccia & Robert Marquez, 2008. "Can cost increases increase competition? Asymmetric information and equilibrium prices," RAND Journal of Economics, RAND Corporation, vol. 39(1), pages 144-162, March.
    20. Cheng Li & Christopher Cotton, 2016. "Clueless Politicians," Working Paper 1341, Economics Department, Queen's University.
    21. Zehao Chen & Yanchen Zhu & Tianyang Shen & Yufan Ye, 2022. "RETRACTED ARTICLE: The optimal pricing strategy to evaluate the reputations of sellers in online platforms using the game theory model," Operations Management Research, Springer, vol. 15(3), pages 953-964, December.
    22. Brian C. Albrecht & Mark Whitmeyer, 2023. "Comparison Shopping: Learning Before Buying From Duopolists," Papers 2302.06580, arXiv.org, revised Apr 2023.
    23. Raphael Boleslavsky & Christopher S. Cotton & Haresh Gurnani, 2017. "Demonstrations and Price Competition in New Product Release," Management Science, INFORMS, vol. 63(6), pages 2016-2026, June.
    24. Raphael Boleslavsky & Christopher Cotton, 2012. "Information and Extremism in Elections," Working Papers 2013-04, University of Miami, Department of Economics.
    25. Meagher, Kieron J. & Zauner, Klaus G., 2004. "Product differentiation and location decisions under demand uncertainty," Journal of Economic Theory, Elsevier, vol. 117(2), pages 201-216, August.
    26. Silvia Martinez-Gorricho, 2020. "Signalling, Information and Consumer Fraud," Games, MDPI, vol. 11(3), pages 1-25, July.
    27. Marco LiCalzi, 2005. "A sufficient condition for all-or-nothing information supply in price discrimination," Game Theory and Information 0510005, University Library of Munich, Germany.
    28. Marco Ottaviani, 2000. "The Value of Public Information in Monopoly," Econometric Society World Congress 2000 Contributed Papers 1479, Econometric Society.
    29. Maxim Ivanov, 2013. "Information revelation in competitive markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(1), pages 337-365, January.
    30. LOVO, Stefano M. & CALCAGNO, R., 2001. "Market efficiency and Price Formation when Dealers are Asymmetrically Informed," HEC Research Papers Series 737, HEC Paris.
    31. Li Hao & Wei Li, 2013. "Misinformation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(1), pages 253-277, February.
    32. Raphael Boleslavsky & Bruce Carlin & Christopher Cotton, 2021. "A Model of Challenge Funds: How Funding Availability and Selection Rigor Affect Project Quality," Working Paper 1470, Economics Department, Queen's University.
    33. Krähmer, Daniel, 2002. "Entry and experimentation in oligopolistic markets for experience goods [Markteintritt und Experimentation in oligopolistischen Märkten für Erfahrungsgüter]," Discussion Papers, Research Unit: Market Processes and Governance FS IV 02-13, WZB Berlin Social Science Center.

  28. Marco Ottaviani, "undated". "Monopoly Pricing with Social Learning," ELSE working papers 035, ESRC Centre on Economics Learning and Social Evolution.

    Cited by:

    1. Orosel, Gerhard O & Ottaviani, Marco & Vesterlund, Lise & Bose, Subir, 2005. "Dynamic Monopoly Pricing and Herding," CEPR Discussion Papers 5003, C.E.P.R. Discussion Papers.
    2. Xu Guan & Yulan Wang & Zelong Yi & Ying‐Ju Chen, 2020. "Inducing Consumer Online Reviews Via Disclosure," Production and Operations Management, Production and Operations Management Society, vol. 29(8), pages 1956-1971, August.
    3. Heski Bar-Isaac, 2001. "Self-Confidence and Survival," STICERD - Theoretical Economics Paper Series 428, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    4. Henry Cao & David Hirshleifer, 2004. "Taking the Road Less Traveled: Does Conversation Eradicate Pernicious Cascades?," Game Theory and Information 0412001, University Library of Munich, Germany.
    5. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2008. "Monopoly pricing in the binary herding model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 203-241, November.

  29. Giuseppe Moscarin & Marco Ottaviani & Lones Smith, "undated". "Social Learning in a Changing World," ELSE working papers 010, ESRC Centre on Economics Learning and Social Evolution.

    Cited by:

    1. Klumpp, Tilman, 2006. "Linear learning in changing environments," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2577-2611, December.
    2. Kishishita, Daiki & Yamagishi, Atsushi, 2021. "Contagion of populist extremism," Journal of Public Economics, Elsevier, vol. 193(C).
    3. Squintani, Francesco & Valimaki, Juuso, 2002. "Imitation and Experimentation in Changing Contests," Journal of Economic Theory, Elsevier, vol. 104(2), pages 376-404, June.
    4. Orosel, Gerhard O & Ottaviani, Marco & Vesterlund, Lise & Bose, Subir, 2005. "Dynamic Monopoly Pricing and Herding," CEPR Discussion Papers 5003, C.E.P.R. Discussion Papers.
    5. Dominic Rohner & Anna Winestein & Bruno S. Frey, 2006. "Ich bin auch ein Lemming: Herding and Consumption Capital in Arts and Culture," CREMA Working Paper Series 2006-05, Center for Research in Economics, Management and the Arts (CREMA).
    6. Patrick Warren & Tom Wilkening, 2010. "Regulatory Fog: The Informational Origins of Regulatory Persistence," Department of Economics - Working Papers Series 1113, The University of Melbourne.
    7. Leonardo Bursztyn & Florian Ederer & Bruno Ferman & Noam Yuchtman, 2012. "Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment," NBER Working Papers 18241, National Bureau of Economic Research, Inc.
    8. Naghavi, Alireza & Pignataro, Giuseppe, 2015. "Theocracy and resilience against economic sanctions," Journal of Economic Behavior & Organization, Elsevier, vol. 111(C), pages 1-12.
    9. Roger Lagunoff & Dino Gerardi & Luca Anderlini, 2008. "Communication and Learning," Working Papers gueconwpa~08-08-01, Georgetown University, Department of Economics.
    10. Marco Ottaviani & Giuseppe Moscarini & Lones Smith, 1998. "Social learning in a changing world," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 657-665.
    11. Daron Acemoglu & Asuman Ozdaglar & Sarath Pattathil, 2023. "Learning, Diversity and Adaptation in Changing Environments: The Role of Weak Links," NBER Working Papers 31214, National Bureau of Economic Research, Inc.
    12. , & , & ,, 2014. "Dynamics of information exchange in endogenous social networks," Theoretical Economics, Econometric Society, vol. 9(1), January.
    13. Warren, Patrick L. & Wilkening, Tom S., 2012. "Regulatory fog: The role of information in regulatory persistence," Journal of Economic Behavior & Organization, Elsevier, vol. 84(3), pages 840-856.
    14. David Hirshleifer & Ivo Welch, 2001. "An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness," Cowles Foundation Discussion Papers 1306, Cowles Foundation for Research in Economics, Yale University.
    15. Francesco Squintani & Juuso Valimaki, 1999. "Imitation and Experimentation in a Changing Environment," Discussion Papers 1275, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    16. Wanying Huang & Philipp Strack & Omer Tamuz, 2024. "Learning in Repeated Interactions on Networks," Econometrica, Econometric Society, vol. 92(1), pages 1-27, January.
    17. Marcel Boyer & Séverine Clamens, 1997. "Strategic Adoption of a New Technology under Uncertain Implementation," CIRANO Working Papers 97s-40, CIRANO.
    18. Shachar Kariv, 2005. "Overconfidence and Informational Cascades," Levine's Bibliography 122247000000000406, UCLA Department of Economics.
    19. Celen, Bogachan & Hyndman, Kyle, 2006. "Endogenous Network Formation In the Laboratory," MPRA Paper 1440, University Library of Munich, Germany.
    20. J. Aislinn Bohren, 2013. "Informational Herding with Model Misspecification," PIER Working Paper Archive 14-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    21. Luca Anderlini & Dino Gerardi & Roger Lagunoff, 2007. "Social Memory and Evidence from the Past," Working Papers gueconwpa~07-07-01, Georgetown University, Department of Economics.
    22. Raphael L'evy & Marcin Pk{e}ski & Nicolas Vieille, 2022. "Stationary social learning in a changing environment," Papers 2201.02122, arXiv.org.
    23. Duffy, John & Hopkins, Ed & Kornienko, Tatiana, 2021. "Lone wolf or herd animal? Information choice and learning from others," European Economic Review, Elsevier, vol. 134(C).
    24. Aislinn Bohren, 2014. "Informational Herding with Model Misspecification, Second Version," PIER Working Paper Archive 15-022, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Nov 2014.
    25. Wenjie Dai & Xin Wang & Zengru Di & Jinshan Wu, 2014. "Logical Gaps in the Approximate Solutions of the Social Learning Game and an Exact Solution," PLOS ONE, Public Library of Science, vol. 9(12), pages 1-18, December.
    26. Hirshleifer, David & Teoh, Siew Hong, 2008. "Thought and Behavior Contagion in Capital Markets," MPRA Paper 9142, University Library of Munich, Germany.
    27. David Hirshleifer & Siew Hong Teoh, 2003. "Herd Behaviour and Cascading in Capital Markets: a Review and Synthesis," European Financial Management, European Financial Management Association, vol. 9(1), pages 25-66, March.
    28. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2008. "Monopoly pricing in the binary herding model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 203-241, November.
    29. Ting Liu & Pasquale Schiraldi, 2012. "New product launch: herd seeking or herd preventing?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 627-648, November.
    30. Krishna Dasaratha & Benjamin Golub & Nir Hak, 2018. "Learning from Neighbors about a Changing State," Papers 1801.02042, arXiv.org, revised Nov 2022.
    31. Rüdiger, Jesper & Vigier, Adrien, 2019. "Learning about analysts," Journal of Economic Theory, Elsevier, vol. 180(C), pages 304-335.

Articles

  1. Debrah Meloso & Salvatore Nunnari & Marco Ottaviani, 2023. "Looking into Crystal Balls: A Laboratory Experiment on Reputational Cheap Talk," Management Science, INFORMS, vol. 69(9), pages 5112-5127, September.
    See citations under working paper version above.
  2. Emeric Henry & Marco Loseto & Marco Ottaviani, 2022. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," Management Science, INFORMS, vol. 68(7), pages 5330-5347, July.
    See citations under working paper version above.
  3. Alfredo Di Tillio & Marco Ottaviani & Peter Norman Sørensen, 2021. "Strategic Sample Selection," Econometrica, Econometric Society, vol. 89(2), pages 911-953, March.
    See citations under working paper version above.
  4. Jérôme Adda & Christian Decker & Marco Ottaviani, 2020. "P-hacking in clinical trials and how incentives shape the distribution of results across phases," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 117(24), pages 13386-13392, June.
    See citations under working paper version above.
  5. Florian Hoffmann & Roman Inderst & Marco Ottaviani, 2020. "Persuasion Through Selective Disclosure: Implications for Marketing, Campaigning, and Privacy Regulation," Management Science, INFORMS, vol. 66(11), pages 4958-4979, November.
    See citations under working paper version above.
  6. Emeric Henry & Marco Ottaviani, 2019. "Research and the Approval Process: The Organization of Persuasion," American Economic Review, American Economic Association, vol. 109(3), pages 911-955, March.
    See citations under working paper version above.
  7. Alfredo Di Tillio & Marco Ottaviani & Peter Norman Sørensen, 2017. "Persuasion Bias in Science: Can Economics Help?," Economic Journal, Royal Economic Society, vol. 127(605), pages 266-304, October.
    See citations under working paper version above.
  8. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.

    Cited by:

    1. He, Xue-Zhong & Treich, Nicolas, 2017. "Prediction market prices under risk aversion and heterogeneous beliefs," Journal of Mathematical Economics, Elsevier, vol. 70(C), pages 105-114.
    2. Romain Gauriot Author e-mail: romain.gauriot@nyu.edu & Lionel Page Author e-mail: lionel.page@uts.edu.au, 2021. "How Market Prices React to Information: Evidence from Binary Options Markets," Working Papers 20200058, New York University Abu Dhabi, Department of Social Science, revised Oct 2021.
    3. John Fender, 2020. "Beyond the efficient markets hypothesis: Towards a new paradigm," Bulletin of Economic Research, Wiley Blackwell, vol. 72(3), pages 333-351, July.
    4. Roland Füss & Massimo Guidolin & Christian Koeppel, 2019. "Sentiment Risk Premia In The Cross-Section of Global Equity," Working Papers on Finance 1913, University of St. Gallen, School of Finance, revised May 2020.
    5. Heraud, Florian & Page, Lionel, 2024. "Does the left-digit bias affect prices in financial markets?," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 20-29.
    6. R. Jared DeLisle & H. Zafer Yüksel & Gulnara R. Zaynutdinova, 2020. "What'S In A Name? A Cautionary Tale Of Profitability Anomalies And Limits To Arbitrage," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(2), pages 305-344, May.
    7. de Oliveira Souza, Thiago, 2019. "Predictability concentrates in bad times. And so does disagreement," Discussion Papers on Economics 8/2019, University of Southern Denmark, Department of Economics.
    8. Angelini, Giovanni & De Angelis, Luca & Singleton, Carl, 2022. "Informational efficiency and behaviour within in-play prediction markets," International Journal of Forecasting, Elsevier, vol. 38(1), pages 282-299.
    9. José Luis Montiel Olea & Pietro Ortoleva & Mallesh Pai & Andrea Prat, 2021. "Competing Models," Working Papers 2021-89, Princeton University. Economics Department..
    10. Ichkitidze, Yuri, 2018. "Temporary price trends in the stock market with rational agents," The Quarterly Review of Economics and Finance, Elsevier, vol. 68(C), pages 103-117.
    11. Prat, Andrea & Montiel Olea , José Luis & Ortoleva, Pietro & Pai, Mallesh, 2019. "Competing Models," CEPR Discussion Papers 14066, C.E.P.R. Discussion Papers.
      • Jose Luis Montiel Olea & Pietro Ortoleva & Mallesh M Pai & Andrea Prat, 2019. "Competing Models," Papers 1907.03809, arXiv.org, revised Nov 2021.
    12. Remorov, Alexander, 2015. "Dynamic Trading When You May Be Wrong," MPRA Paper 63964, University Library of Munich, Germany, revised 27 Apr 2015.
    13. Marcello Pericoli & Giovanni Veronese, 2015. "Forecaster heterogeneity, surprises and financial markets," Temi di discussione (Economic working papers) 1020, Bank of Italy, Economic Research and International Relations Area.
    14. Weidong Tian & Zimu Zhu, 2022. "A portfolio choice problem under risk capacity constraint," Annals of Finance, Springer, vol. 18(3), pages 285-326, September.
    15. Bottazzi, Giulio & Giachini, Daniele, 2022. "A general equilibrium model of investor sentiment," Economics Letters, Elsevier, vol. 218(C).
    16. Bjerksund, Petter & Stensland, Gunnar, 2017. "Profitable Robot Strategies in Pari-Mutuel Betting," Discussion Papers 2017/6, Norwegian School of Economics, Department of Business and Management Science.
    17. Marco Mantovani & Antonio Filippin, 2024. "When do prediction markets return average beliefs? Experimental evidence," Working Papers 532, University of Milano-Bicocca, Department of Economics.
    18. Ramirez, Philip & Reade, J. James & Singleton, Carl, 2023. "Betting on a buzz: Mispricing and inefficiency in online sportsbooks," International Journal of Forecasting, Elsevier, vol. 39(3), pages 1413-1423.
    19. Weijia Wang & Shaoan Huang, 2021. "Risk sharing and financial stability: a welfare analysis," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 16(1), pages 211-228, January.
    20. Urmee Khan, 2016. "State-dependent Preferences in Prediction Markets and Prices as Aggregate Statistic," Studies in Microeconomics, , vol. 4(1), pages 70-77, June.
    21. Ming‐Yu Liu, 2019. "Improving momentum strategies using residual returns and option‐implied information," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(4), pages 499-521, April.
    22. Po‐Hsuan Hsu & Kai Li & Chi‐Yang Tsou, 2023. "The Pollution Premium," Journal of Finance, American Finance Association, vol. 78(3), pages 1343-1392, June.
    23. Dai, Min & Jia, Yanwei & Kou, Steven, 2021. "The wisdom of the crowd and prediction markets," Journal of Econometrics, Elsevier, vol. 222(1), pages 561-578.
    24. DeLisle, R. Jared & Ferguson, Michael F. & Kassa, Haimanot & Zaynutdinova, Gulnara R., 2021. "Hazard stocks and expected returns," Journal of Banking & Finance, Elsevier, vol. 125(C).
    25. Bo Cowgill & Eric Zitzewitz, 2015. "Corporate Prediction Markets: Evidence from Google, Ford, and Firm X," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(4), pages 1309-1341.
    26. Au, Pak Hung, 2016. "Price reaction and disagreement over public signal," Journal of Economic Behavior & Organization, Elsevier, vol. 130(C), pages 81-106.
    27. Urmee Khan, 2016. "State-dependent Preferences in Prediction Markets and Prices as Aggregate Statistic," Working Papers 201609, University of California at Riverside, Department of Economics.
    28. Yi-Chun Chen & Manuel Mueller-Frank & Mallesh M Pai, 2021. "The Wisdom of the Crowd and Higher-Order Beliefs," Papers 2102.02666, arXiv.org, revised Nov 2021.
    29. Yu, Dian & Gao, Jianjun & Wang, Tongyao, 2022. "Betting market equilibrium with heterogeneous beliefs: A prospect theory-based model," European Journal of Operational Research, Elsevier, vol. 298(1), pages 137-151.
    30. Roland Fuess & Massimo Guidolin & Christian Koeppel, 2019. "Sentiment Risk Premia in the Cross-Section of Global Equity and Currency Returns," BAFFI CAREFIN Working Papers 19116, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    31. Bennett, Donyetta & Mekelburg, Erik & Strauss, Jack & Williams, T.H., 2024. "Unlocking the black box of sentiment and cryptocurrency: What, which, why, when and how?," Global Finance Journal, Elsevier, vol. 60(C).
    32. Zhao, Yang & Yu, Min-Teh, 2020. "Predicting catastrophe risk: Evidence from catastrophe bond markets," Journal of Banking & Finance, Elsevier, vol. 121(C).
    33. Albert S. Kyle & Anna A. Obizhaeva & Yajun Wang, 2023. "Beliefs Aggregation and Return Predictability," Journal of Finance, American Finance Association, vol. 78(1), pages 427-486, February.
    34. David Johnstone & Stewart Jones & Oliver Jones & Steve Tulig, 2021. "Scoring Probability Forecasts by a User’s Bets Against a Market Consensus," Decision Analysis, INFORMS, vol. 18(3), pages 169-184, September.

  9. Garfagnini, Umberto & Ottaviani, Marco & Sørensen, Peter Norman, 2014. "Accept or reject? An organizational perspective," International Journal of Industrial Organization, Elsevier, vol. 34(C), pages 66-74.

    Cited by:

    1. Name-Correa, Alvaro J. & Yildirim, Huseyin, 2019. "Social pressure, transparency, and voting in committees," Journal of Economic Theory, Elsevier, vol. 184(C).
    2. Filippo Pavesi & Massimo Scotti, 2019. "Good Lies," Working Paper Series 39, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    3. Silvia Dominguez Martinez & Randolph Sloof, 2016. "Communication versus (Restricted) Delegation: An Experimental Comparison," Tinbergen Institute Discussion Papers 16-050/VII, Tinbergen Institute.
    4. Danielle Li, 2017. "Expertise versus Bias in Evaluation: Evidence from the NIH," American Economic Journal: Applied Economics, American Economic Association, vol. 9(2), pages 60-92, April.
    5. Bel, By Roland & Smirnov, Vladimir & Wait, Andrew, 2018. "Managing change: Communication, managerial style and change in organizations," Economic Modelling, Elsevier, vol. 69(C), pages 1-12.
    6. Katayama, Hajime & Meagher, Kieron J. & Wait, Andrew, 2018. "Authority and communication in firms," Journal of Economic Behavior & Organization, Elsevier, vol. 155(C), pages 315-348.

  10. Roman Inderst & Marco Ottaviani, 2013. "Sales Talk, Cancellation Terms and the Role of Consumer Protection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(3), pages 1002-1026.
    See citations under working paper version above.
  11. Albert Banal-Estañol & Marco Ottaviani & Andrew Winton, 2013. "The Flip Side of Financial Synergies: Coinsurance Versus Risk Contamination," The Review of Financial Studies, Society for Financial Studies, vol. 26(12), pages 3142-3181.
    See citations under working paper version above.
  12. Roman Inderst & Marco Ottaviani, 2012. "Financial Advice," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 494-512, June.

    Cited by:

    1. Sharma, Tripti & French, Declan & McKillop, Donal G., 2020. "The UK Equity Release Market: Views from the Regulatory Authorities, Product Providers and Advisors," QBS Working Paper Series 2020/09, Queen's University Belfast, Queen's Business School.
    2. Balafoutas, Loukas & Kerschbamer, Rudolf, 2020. "Credence goods in the literature: What the past fifteen years have taught us about fraud, incentives, and the role of institutions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
    3. David Bardey & Denis Gromb & David Martimort & Jérôme Pouyet, 2020. "Controlling Sellers Who Provide Advice: Regulation and Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 68(3), pages 409-444, September.
    4. Stephen G. Dimmock & William C. Gerken & Tyson Van Alfen, 2021. "Real Estate Shocks and Financial Advisor Misconduct," Journal of Finance, American Finance Association, vol. 76(6), pages 3309-3346, December.
    5. David Bardey & Denis Gromb & David Martimort & Jerome Pouyet, 2016. "Drugs, Showrooms and Financial Products: Competition and Regulation when Sellers Provide Expert Advice," Documentos CEDE 15231, Universidad de los Andes, Facultad de Economía, CEDE.
    6. Jeffrey V. Butler & Paola Giuliano & Luigi Guiso, 2012. "Trust and Cheating," NBER Working Papers 18509, National Bureau of Economic Research, Inc.
    7. Balasubramaniam, Vimal, 2018. "The Household Finance Landscape in Emerging Economies," CEPR Discussion Papers 13318, C.E.P.R. Discussion Papers.
    8. Malliaris, Steven & Malliaris, A.G., 2021. "Delegated asset management and performance when some investors are unsophisticated," Journal of Banking & Finance, Elsevier, vol. 133(C).
    9. Heavey, Emily & Baxter, Kate & Birks, Yvonne, 2019. "Financial advice for funding later life care: a scoping review of evidence from England," LSE Research Online Documents on Economics 91497, London School of Economics and Political Science, LSE Library.
    10. Aaron Bruhn & Anthony Asher, 2021. "The primacy of ethics in the provision of financial advice," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 3305-3327, June.
    11. John Gathergood & Joerg Weber, 2015. "Financial Literacy, Present Bias and Alternative Mortgage Products," Discussion Papers 2015/07, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    12. Haziza, Mor M. & Kalay, Avner, 2020. "Trust and delegation: A case to consider on broker rebates and investor sophistication," Journal of Financial Markets, Elsevier, vol. 49(C).
    13. Luigi Guiso & Eliana Viviano, 2013. "How Much Can Financial Literacy Help?," EIEF Working Papers Series 1325, Einaudi Institute for Economics and Finance (EIEF), revised Sep 2013.
    14. Calcagno, Riccardo & Monticone, Chiara, 2015. "Financial literacy and the demand for financial advice," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 363-380.
    15. Dahlquist, Magnus & Martinez, Jose Vincente & Soderlind, Paul, 2014. "Individual Investor Activity and Performance," Working Papers on Finance 1408, University of St. Gallen, School of Finance, revised Sep 2016.
    16. Kim, Hugh H. & Maurer, Raimond & Mitchell, Olivia S., 2021. "How financial literacy shapes the demand for financial advice at older ages," The Journal of the Economics of Ageing, Elsevier, vol. 20(C).
    17. Kiryl Khalmetski, 2013. "The Hidden Value of Lying: Evasion of Guilt in Expert Advice," 2013 Papers pkh266, Job Market Papers.
    18. Brown, Sarah & Bucciol, Alessandro & Montagnoli, Alberto & Taylor, Karl, 2021. "Financial Advice and Household Financial Portfolios," IZA Discussion Papers 14301, Institute of Labor Economics (IZA).
    19. Robert Dur & Max van Lent, 2018. "Socially Useless Jobs," Tinbergen Institute Discussion Papers 18-034/VII, Tinbergen Institute.
    20. Salvatore Piccolo & Giovanni W. Puopolo & Luis Vasconcelos, 2013. "Non-Exclusive Financial Advice," CSEF Working Papers 347, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 13 Oct 2015.
    21. Fujiki, Hiroshi, 2020. "Are the actual and intended sources of financial knowledge the same? Evidence from Japan," Japan and the World Economy, Elsevier, vol. 55(C).
    22. Ugo Panizza, 2015. "Billions on the Sidewalk: Improving Savings by Reducing Investment Mistakes," IHEID Working Papers 18-2015, Economics Section, The Graduate Institute of International Studies.
    23. Riccardo Calcagno & Maela Giofré & Maria Cesira Urzi-Brancati, 2017. "To trust is good, but to control is better : How investors discipline financial advisors’ activity," Post-Print hal-02312048, HAL.
    24. Hoechle, Daniel & Ruenzi, Stefan & Schaub, Nic & Schmid, Markus, 2014. "The Impact of Financial Advice on Trade Performance and Behavioral Biases," Working Papers on Finance 1419, University of St. Gallen, School of Finance, revised Dec 2015.
    25. Job Harms & S. Rosenkranz & M.W.J.L. Sanders, 2017. "Choice Complexity, Benchmarks and Costly Information," Working Papers 17-07, Utrecht School of Economics.
    26. Jiang, Jinglin & Liao, Li & Wang, Zhengwei & Xiang, Hongyu, 2020. "Financial literacy and retail investors' financial welfare: Evidence from mutual fund investment outcomes in China," Pacific-Basin Finance Journal, Elsevier, vol. 59(C).
    27. Valletti, Tommaso & Genakos, Christos & Roumanias, Costas, 2015. "Loss aversion on the phone," CEPR Discussion Papers 10861, C.E.P.R. Discussion Papers.
    28. Inderst, Roman & Hoffmann, Florian & Opp, Marcus, 2014. "Regulating Deferred Incentive Pay," CEPR Discussion Papers 9877, C.E.P.R. Discussion Papers.
    29. Victor Augias & Daniel M. A. Barreto, 2020. "Persuading a Wishful Thinker," Papers 2011.13846, arXiv.org, revised Nov 2023.
    30. Gui, Zhengqing & Huang, Yangguang & Zhao, Xiaojian, 2021. "Whom to educate? Financial literacy and investor awareness," China Economic Review, Elsevier, vol. 67(C).
    31. Baeckström, Ylva & Marsh, Ian W. & Silvester, Joanne, 2021. "Financial advice and gender: Wealthy individual investors in the UK," Journal of Corporate Finance, Elsevier, vol. 71(C).
    32. Hermansson, Cecilia & Song, Han-Suck, 2016. "Financial advisory services meetings and their impact on saving behavior – A difference-in-difference analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 30(C), pages 131-139.
    33. Jonathan Zinman, 2013. "Consumer Credit: Too Much or Too Little (or Just Right)?," NBER Working Papers 19682, National Bureau of Economic Research, Inc.
    34. Mark Armstrong, 2014. "Search and Ripoff Externalities," Economics Series Working Papers 715, University of Oxford, Department of Economics.
    35. Kevin Davis, 2019. "The Hayne Royal Commission and financial sector misbehaviour: Lasting change or temporary fix?," The Economic and Labour Relations Review, , vol. 30(2), pages 200-221, June.
    36. Melis Kartal & James Tremewan, 2016. "An offer you can refuse: the effects of transparency with endogenous conflict of interest," Vienna Economics Papers vie1602, University of Vienna, Department of Economics.
    37. Fotios Pasiouras, 2018. "Financial Consumer Protection and the Cost of Financial Intermediation: Evidence from Advanced and Developing Economies," Management Science, INFORMS, vol. 64(2), pages 902-924, February.
    38. Paula Onuchic, 2021. "Advisors with Hidden Motives," Papers 2103.07446, arXiv.org, revised May 2023.
    39. Foucart, Renaud, 2017. "Meta-Search and Market Concentration," Rationality and Competition Discussion Paper Series 15, CRC TRR 190 Rationality and Competition.
    40. Hunt Allcott & Richard L. Sweeney, 2017. "The Role of Sales Agents in Information Disclosure: Evidence from a Field Experiment," Management Science, INFORMS, vol. 63(1), pages 21-39, January.
    41. Agarwal, Vikas & Nada, Vikram & Ray, Sugata, 2013. "Institutional investment and intermediation in the hedge fund industry," CFR Working Papers 13-03, University of Cologne, Centre for Financial Research (CFR).
    42. Santosh Anagol & Vijaya Marisetty & Renuka Sane & Buvaneshwaran Venugopal, 2013. "Distribution fees and mutual fund flows: Evidence from a natural experiment in the Indian mutual funds market," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2013-004, Indira Gandhi Institute of Development Research, Mumbai, India.
    43. Schumacher, Heiner, 2014. "Incentives through consumer learning about tastes," International Journal of Industrial Organization, Elsevier, vol. 37(C), pages 170-177.
    44. Leonardo Gambacorta & Luigi Guiso & Paolo Emilio Mistrulli & Andrea Pozzi & Anton Tsoy, 2019. "The Cost of Steering in Financial Markets: Evidence from the Mortgage Market," Temi di discussione (Economic working papers) 1252, Bank of Italy, Economic Research and International Relations Area.
    45. Gill, Andrej & Heinz, Matthias & Schumacher, Heiner, 2014. "Trust, trustworthiness and selection into the financial industry," CFS Working Paper Series 458, Center for Financial Studies (CFS).
    46. Paul Pautler, 2015. "A Brief History of the FTC’s Bureau of Economics: Reports, Mergers, and Information Regulation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 46(1), pages 59-94, February.
    47. Shen, Chung-Hua & Lin, Shih-Jie & Tang, De-Piao & Hsiao, Yu-Jen, 2016. "The relationship between financial disputes and financial literacy," Pacific-Basin Finance Journal, Elsevier, vol. 36(C), pages 46-65.
    48. Schröder, Jan Henrik, 2018. "Die Implementierung einheitlicher CRM-Prozesse und Beratungsstandards im Privatkundengeschäft deutscher Genossenschaftsbanken: Empirische Befunde zur Umsetzung des BVR-Projekts Beratungsqualität durch," Arbeitspapiere 182, University of Münster, Institute for Cooperatives.
    49. Joanna Franaszek, 2021. "When Competence Hurts: Revelation of Complex Information," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 3, pages 5-23.
    50. Hiroshi Fujiki, 2019. "Who needs guidance from a financial adviser? Evidence from Japan," Working Papers on Central Bank Communication 011, University of Tokyo, Graduate School of Economics.
    51. Michael Grubb, 2015. "Failing to Choose the Best Price: Theory, Evidence, and Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 303-340, November.
    52. Zhengqing Gui & Yangguang Huang & Xiaojian Zhao, 2018. "Whom to Educate? Financial Fraud and Investor Awareness," HKUST IEMS Working Paper Series 2018-52, HKUST Institute for Emerging Market Studies, revised Jan 2018.
    53. Jeremy Burke & Angela A. Hung & Jack Clift & Steven Garber & Joanne K. Yoong, 2015. "Impacts of Conflicts of Interest in the Financial Services Industry," Working Papers WR-1076, RAND Corporation.
    54. Pan, Xuefeng & Wu, Weixing & Zhang, Xuyang, 2020. "Is financial advice a cure-all or the icing on the cake for financial literacy? Evidence from financial market participation in China," International Review of Financial Analysis, Elsevier, vol. 69(C).
    55. Paiella, Monica, 2016. "Financial literacy and subjective expectations questions: A validation exercise," Research in Economics, Elsevier, vol. 70(2), pages 360-374.
    56. Daniel Hoechle & Stefan Ruenzi & Nic Schaub & Markus Schmid, 2018. "Financial Advice and Bank Profits," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4447-4492.
    57. Lu, Xiaomeng & Zhang, Yong & Zhang, Yixing & Wang, Lin, 2020. "Can investment advisors promote rational investment? Evidence from micro-data in China," Economic Modelling, Elsevier, vol. 86(C), pages 251-263.
    58. Litterscheidt, Rouven & Streich, David J., 2020. "Financial education and digital asset management: What's in the black box?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).
    59. Hugh Hoikwang Kim & Raimond Maurer & Olivia S. Mitchell, 2019. "How Cognitive Ability and Financial Literacy Shape the Demand for Financial Advice at Older Ages," NBER Working Papers 25750, National Bureau of Economic Research, Inc.
    60. Agarwal, Vikas & Lu, Yan & Ray, Sugata, 2014. "Under one roof: A study of simultaneously managed hedge funds and funds of hedge funds," CFR Working Papers 14-13, University of Cologne, Centre for Financial Research (CFR).
    61. Sprenger, Julia, 2016. "Financial literacy: A barrier to seek financial advice but not a shield against following it," Ruhr Economic Papers 634, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    62. Badoer, Dominique C. & Costello, Charles P. & James, Christopher M., 2020. "I can see clearly now: The impact of disclosure requirements on 401(k) fees," Journal of Financial Economics, Elsevier, vol. 136(2), pages 471-489.
    63. Garcia Gonzalez, Javier, 2018. "Effects of Consumer Financial Protection Introduced after the Financial Crisis of 2007-2008," MPRA Paper 89226, University Library of Munich, Germany.
    64. Fehr, Dietmar & Huck, Steffen, 2014. "Who knows it is a game? On strategic awareness and cognitive ability," Discussion Papers, Research Unit: Economics of Change SP II 2013-306r, WZB Berlin Social Science Center.
    65. Shen, Bo & Wright, Julian, 2019. "Why (don’t) firms free ride on an intermediary’s advice?," International Journal of Industrial Organization, Elsevier, vol. 64(C), pages 27-54.
    66. Gülen Karakoç & Marco Pagnozzi & Salvatore Piccolo & Giovanni W. Puopolo, 2020. "Information Acquisition and Financial Advice," CSEF Working Papers 587, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    67. van Ooijen, Raun & van Rooij, Maarten C.J., 2016. "Mortgage risks, debt literacy and financial advice," Journal of Banking & Finance, Elsevier, vol. 72(C), pages 201-217.
    68. Vikas Agarwal & Yan Lu & Sugata Ray, 2016. "Under One Roof: A Study of Simultaneously Managed Hedge Funds and Funds of Hedge Funds," Management Science, INFORMS, vol. 62(3), pages 722-740, March.
    69. Baeckström, Ylva & Marsh, Ian W. & Silvester, Joanne, 2021. "Variations in investment advice provision: A study of financial advisors of millionaire investors," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 716-735.
    70. Zalewska, Anna (Ania) & Zhang, Yue, 2020. "Mutual funds' exits, financial crisis and Darwin," Journal of Corporate Finance, Elsevier, vol. 65(C).
    71. Lourenço, Carlos J.S. & Dellaert, Benedict G.C. & Donkers, Bas, 2020. "Whose Algorithm Says So: The Relationships Between Type of Firm, Perceptions of Trust and Expertise, and the Acceptance of Financial Robo-Advice," Journal of Interactive Marketing, Elsevier, vol. 49(C), pages 107-124.
    72. Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.
    73. Fehr, Dietmar & Huck, Steffen, 2013. "Who knows It is a game? On rule understanding, strategic awareness and cognitive ability," Discussion Papers, Research Unit: Economics of Change SP II 2013-306, WZB Berlin Social Science Center.
    74. Chauhan, Yogesh & Dey, Dipanjan Kumar, 2020. "Does financial literacy affect the value of financial advice? A contingent valuation approach," Journal of Behavioral and Experimental Finance, Elsevier, vol. 25(C).
    75. Christopher P. Clifford & William C. Gerken, 2021. "Property Rights to Client Relationships and Financial Advisor Incentives," Journal of Finance, American Finance Association, vol. 76(5), pages 2409-2445, October.
    76. Leonardo Gambacorta & Luigi Guiso & Paolo Mistrulli & Andrea Pozzi & Anton Tsoy, 2017. "The Cost of Distorted Financial Advice - Evidence from the Mortgage Market," EIEF Working Papers Series 1713, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2017.
    77. Victoria Y M Suen & Matthew R G Brown & Randall K Morck & Peter H Silverstone, 2014. "Regional Brain Changes Occurring during Disobedience to “Experts” in Financial Decision-Making," PLOS ONE, Public Library of Science, vol. 9(1), pages 1-10, January.

  13. Inderst, Roman & Ottaviani, Marco, 2012. "How (not) to pay for advice: A framework for consumer financial protection," Journal of Financial Economics, Elsevier, vol. 105(2), pages 393-411.

    Cited by:

    1. Balafoutas, Loukas & Kerschbamer, Rudolf, 2020. "Credence goods in the literature: What the past fifteen years have taught us about fraud, incentives, and the role of institutions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
    2. David Bardey & Denis Gromb & David Martimort & Jérôme Pouyet, 2020. "Controlling Sellers Who Provide Advice: Regulation and Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 68(3), pages 409-444, September.
    3. Stephen G. Dimmock & William C. Gerken & Tyson Van Alfen, 2021. "Real Estate Shocks and Financial Advisor Misconduct," Journal of Finance, American Finance Association, vol. 76(6), pages 3309-3346, December.
    4. David Bardey & Denis Gromb & David Martimort & Jerome Pouyet, 2016. "Drugs, Showrooms and Financial Products: Competition and Regulation when Sellers Provide Expert Advice," Documentos CEDE 15231, Universidad de los Andes, Facultad de Economía, CEDE.
    5. Balasubramaniam, Vimal, 2018. "The Household Finance Landscape in Emerging Economies," CEPR Discussion Papers 13318, C.E.P.R. Discussion Papers.
    6. Felix Holzmeister & Martin Holmén & Michael Kirchler & Matthias Stefan & Erik Wengström, 2019. "Delegation Decisions in Finance," Working Papers 2019-21, Faculty of Economics and Statistics, Universität Innsbruck.
    7. Roman Inderst & Marco Ottaviani, 2012. "Sales Talk, Cancellation Terms, and the Role of Consumer Protection," Working Papers 465, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    8. Dirk Bergemann & Alessandro Bonatti, 2022. "Data, Competition, and Digital Platforms," Cowles Foundation Discussion Papers 2343, Cowles Foundation for Research in Economics, Yale University.
    9. Utz Weitzel & Michael Kirchler, 2021. "The Banker's Oath And Financial Advice," Working Papers 2021-04, Faculty of Economics and Statistics, Universität Innsbruck.
    10. Haziza, Mor M. & Kalay, Avner, 2020. "Trust and delegation: A case to consider on broker rebates and investor sophistication," Journal of Financial Markets, Elsevier, vol. 49(C).
    11. Jennifer Brown & Dylan B. Minor, 2012. "Misconduct in Credence Good Markets," NBER Working Papers 18608, National Bureau of Economic Research, Inc.
    12. Roman Inderst & Marco Ottaviani, 2012. "Financial Advice," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 494-512, June.
    13. Luigi Guiso & Eliana Viviano, 2013. "How Much Can Financial Literacy Help?," EIEF Working Papers Series 1325, Einaudi Institute for Economics and Finance (EIEF), revised Sep 2013.
    14. Sanghoon Kim, 2024. "Informed agent’s advice in bargaining under two-sided incomplete information," Journal of Economics, Springer, vol. 143(2), pages 183-205, October.
    15. Calcagno, Riccardo & Monticone, Chiara, 2015. "Financial literacy and the demand for financial advice," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 363-380.
    16. Christos Genakos & Costas Roumanias & Tommaso Valletti, 2023. "Is having an expert "friend" enough? An analysis of consumer switching behavior in mobile telephony," CEP Discussion Papers dp1939, Centre for Economic Performance, LSE.
    17. Jun Honda & Roman Inderst & Marco Ottaviani, 2024. "When Liability Is Not Enough: Regulating Bonus Payments in Markets with Advice," Management Science, INFORMS, vol. 70(2), pages 1301-1314, February.
    18. Aridor, Guy & Gonçalves, Duarte, 2022. "Recommenders’ originals: The welfare effects of the dual role of platforms as producers and recommender systems," International Journal of Industrial Organization, Elsevier, vol. 83(C).
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    20. Kiryl Khalmetski, 2013. "The Hidden Value of Lying: Evasion of Guilt in Expert Advice," 2013 Papers pkh266, Job Market Papers.
    21. Inderst, Roman, 2018. "Nonlinear Incentives and Advisor Bias," CEPR Discussion Papers 12914, C.E.P.R. Discussion Papers.
    22. Alessandro De Chiara & Marco Alexander Schwarz, 2021. "A Dynamic Theory of Regulatory Capture," CESifo Working Paper Series 8968, CESifo.
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    24. Riccardo Calcagno & Maela Giofré & Maria Cesira Urzi-Brancati, 2017. "To trust is good, but to control is better : How investors discipline financial advisors’ activity," Post-Print hal-02312048, HAL.
    25. Hoechle, Daniel & Ruenzi, Stefan & Schaub, Nic & Schmid, Markus, 2014. "The Impact of Financial Advice on Trade Performance and Behavioral Biases," Working Papers on Finance 1419, University of St. Gallen, School of Finance, revised Dec 2015.
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    27. Valletti, Tommaso & Genakos, Christos & Roumanias, Costas, 2015. "Loss aversion on the phone," CEPR Discussion Papers 10861, C.E.P.R. Discussion Papers.
    28. Zhengqing Gui & Yangguang Huang & Xiaojian Zhao, 2021. "Financial Fraud and Investor Awareness," Monash Economics Working Papers 2021-06, Monash University, Department of Economics.
    29. Inderst, Roman & Hoffmann, Florian & Opp, Marcus, 2014. "Regulating Deferred Incentive Pay," CEPR Discussion Papers 9877, C.E.P.R. Discussion Papers.
    30. Baridhi Malakar, 2024. "Essays on Responsible and Sustainable Finance," Papers 2406.12995, arXiv.org.
    31. Gui, Zhengqing & Huang, Yangguang & Zhao, Xiaojian, 2021. "Whom to educate? Financial literacy and investor awareness," China Economic Review, Elsevier, vol. 67(C).
    32. Baeckström, Ylva & Marsh, Ian W. & Silvester, Joanne, 2021. "Financial advice and gender: Wealthy individual investors in the UK," Journal of Corporate Finance, Elsevier, vol. 71(C).
    33. Hermansson, Cecilia & Song, Han-Suck, 2016. "Financial advisory services meetings and their impact on saving behavior – A difference-in-difference analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 30(C), pages 131-139.
    34. Kevin Davis, 2019. "The Hayne Royal Commission and financial sector misbehaviour: Lasting change or temporary fix?," The Economic and Labour Relations Review, , vol. 30(2), pages 200-221, June.
    35. Cruciani, Caterina & Gardenal, Gloria & Rigoni, Ugo, 2021. "Trust-formation processes in financial advisors: A structural equation model," The Quarterly Review of Economics and Finance, Elsevier, vol. 82(C), pages 185-199.
    36. Melis Kartal & James Tremewan, 2016. "An offer you can refuse: the effects of transparency with endogenous conflict of interest," Vienna Economics Papers vie1602, University of Vienna, Department of Economics.
    37. Fotios Pasiouras, 2018. "Financial Consumer Protection and the Cost of Financial Intermediation: Evidence from Advanced and Developing Economies," Management Science, INFORMS, vol. 64(2), pages 902-924, February.
    38. Paula Onuchic, 2021. "Advisors with Hidden Motives," Papers 2103.07446, arXiv.org, revised May 2023.
    39. Foucart, Renaud, 2017. "Meta-Search and Market Concentration," Rationality and Competition Discussion Paper Series 15, CRC TRR 190 Rationality and Competition.
    40. Agarwal, Vikas & Nada, Vikram & Ray, Sugata, 2013. "Institutional investment and intermediation in the hedge fund industry," CFR Working Papers 13-03, University of Cologne, Centre for Financial Research (CFR).
    41. Santosh Anagol & Vijaya Marisetty & Renuka Sane & Buvaneshwaran Venugopal, 2013. "Distribution fees and mutual fund flows: Evidence from a natural experiment in the Indian mutual funds market," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2013-004, Indira Gandhi Institute of Development Research, Mumbai, India.
    42. Holzmeister, Felix & Holmén, Martin & Kirchler, Michael & Stefan, Matthias & Wengström, Erik, 2019. "Delegated Decision-Making in Finance," OSF Preprints 3umdf, Center for Open Science.
    43. Gill, Andrej & Heinz, Matthias & Schumacher, Heiner, 2014. "Trust, trustworthiness and selection into the financial industry," CFS Working Paper Series 458, Center for Financial Studies (CFS).
    44. Shen, Chung-Hua & Lin, Shih-Jie & Tang, De-Piao & Hsiao, Yu-Jen, 2016. "The relationship between financial disputes and financial literacy," Pacific-Basin Finance Journal, Elsevier, vol. 36(C), pages 46-65.
    45. Briana Chang & Martin Szydlowski, 2020. "The Market for Conflicted Advice," Journal of Finance, American Finance Association, vol. 75(2), pages 867-903, April.
    46. Michael Grubb, 2015. "Failing to Choose the Best Price: Theory, Evidence, and Policy," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 303-340, November.
    47. Zhengqing Gui & Yangguang Huang & Xiaojian Zhao, 2018. "Whom to Educate? Financial Fraud and Investor Awareness," HKUST IEMS Working Paper Series 2018-52, HKUST Institute for Emerging Market Studies, revised Jan 2018.
    48. de Bruin, Boudewijn & Cherednychenko, Olha & Hermes, Niels & Kramer, Marc & Meyer, Marco, 2024. "Demand for financial advice: Evidence from a randomized choice experiment," Journal of Banking & Finance, Elsevier, vol. 163(C).
    49. Annette Hofmann & Julia K. Neumann & David Pooser, 2018. "Plea for Uniform Regulation and Challenges of Implementing the New Insurance Distribution Directive," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(4), pages 740-769, October.
    50. Matthias Stefan & Martin Holmén & Felix Holzmeister & Michael Kirchler & Erik Wengström, 2022. "You can’t always get what you want—An experiment on finance professionals' decisions for others," Working Papers 2022-02, Faculty of Economics and Statistics, Universität Innsbruck.
    51. Daniel Hoechle & Stefan Ruenzi & Nic Schaub & Markus Schmid, 2018. "Financial Advice and Bank Profits," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4447-4492.
    52. Hugh Hoikwang Kim & Raimond Maurer & Olivia S. Mitchell, 2019. "How Cognitive Ability and Financial Literacy Shape the Demand for Financial Advice at Older Ages," NBER Working Papers 25750, National Bureau of Economic Research, Inc.
    53. Martin Hibbeln & Werner Osterkamp, 2024. "Simple is simply not enough—features versus labels of complex financial securities," Review of Derivatives Research, Springer, vol. 27(2), pages 113-150, July.
    54. Agarwal, Vikas & Lu, Yan & Ray, Sugata, 2014. "Under one roof: A study of simultaneously managed hedge funds and funds of hedge funds," CFR Working Papers 14-13, University of Cologne, Centre for Financial Research (CFR).
    55. Ziying Yang & Jie Gao & Du Yu, 2024. "Cognition ability, financial advice seeking, and investment performance: New evidence from China," International Review of Finance, International Review of Finance Ltd., vol. 24(1), pages 53-82, March.
    56. Badoer, Dominique C. & Costello, Charles P. & James, Christopher M., 2020. "I can see clearly now: The impact of disclosure requirements on 401(k) fees," Journal of Financial Economics, Elsevier, vol. 136(2), pages 471-489.
    57. Garcia Gonzalez, Javier, 2018. "Effects of Consumer Financial Protection Introduced after the Financial Crisis of 2007-2008," MPRA Paper 89226, University Library of Munich, Germany.
    58. Fehr, Dietmar & Huck, Steffen, 2014. "Who knows it is a game? On strategic awareness and cognitive ability," Discussion Papers, Research Unit: Economics of Change SP II 2013-306r, WZB Berlin Social Science Center.
    59. Shen, Bo & Wright, Julian, 2019. "Why (don’t) firms free ride on an intermediary’s advice?," International Journal of Industrial Organization, Elsevier, vol. 64(C), pages 27-54.
    60. Luis Arturo Lopez & Shawn J. McCoy & Vivek Sah, 2022. "Steering consumers to lenders in residential real estate markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1596-1641, November.
    61. Caldieraro, Fabio & Cunha, Marcus, 2022. "Consumers’ response to weak unique selling propositions: Implications for optimal product recommendation strategy," International Journal of Research in Marketing, Elsevier, vol. 39(3), pages 724-744.
    62. van Ooijen, Raun & van Rooij, Maarten C.J., 2016. "Mortgage risks, debt literacy and financial advice," Journal of Banking & Finance, Elsevier, vol. 72(C), pages 201-217.
    63. Vikas Agarwal & Yan Lu & Sugata Ray, 2016. "Under One Roof: A Study of Simultaneously Managed Hedge Funds and Funds of Hedge Funds," Management Science, INFORMS, vol. 62(3), pages 722-740, March.
    64. Baeckström, Ylva & Marsh, Ian W. & Silvester, Joanne, 2021. "Variations in investment advice provision: A study of financial advisors of millionaire investors," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 716-735.
    65. Felix Gottschalk, 2021. "Regulating Markets with Advice: An Experimental Study," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(1), pages 1-31, February.
    66. Ingar Haaland & Ole-Andreas Elvik Næss & Ingar K. Haaland, 2023. "Misperceived Returns to Active Investing," CESifo Working Paper Series 10257, CESifo.
    67. Lourenço, Carlos J.S. & Dellaert, Benedict G.C. & Donkers, Bas, 2020. "Whose Algorithm Says So: The Relationships Between Type of Firm, Perceptions of Trust and Expertise, and the Acceptance of Financial Robo-Advice," Journal of Interactive Marketing, Elsevier, vol. 49(C), pages 107-124.
    68. Utz Weitzel & Michael Kirchler, 2022. "The Banker's Oath And Financial Advice," Working Papers 2022-13, Faculty of Economics and Statistics, Universität Innsbruck.
    69. M. Debbich, 2015. "Why Financial Advice Cannot Substitute for Financial Literacy?," Working papers 534, Banque de France.
    70. Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.
    71. Fehr, Dietmar & Huck, Steffen, 2013. "Who knows It is a game? On rule understanding, strategic awareness and cognitive ability," Discussion Papers, Research Unit: Economics of Change SP II 2013-306, WZB Berlin Social Science Center.
    72. Chauhan, Yogesh & Dey, Dipanjan Kumar, 2020. "Does financial literacy affect the value of financial advice? A contingent valuation approach," Journal of Behavioral and Experimental Finance, Elsevier, vol. 25(C).
    73. Christopher P. Clifford & William C. Gerken, 2021. "Property Rights to Client Relationships and Financial Advisor Incentives," Journal of Finance, American Finance Association, vol. 76(5), pages 2409-2445, October.
    74. Steffen Westermann & Scott J. Niblock & Jennifer L. Harrison & Michael A. Kortt, 2020. "Financial Advice Seeking: A Review of the Barriers and Benefits," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 367-388, December.
    75. Meyer, Steffen & Uhr, Charline & Loos, Benjamin & Hackethal, Andreas, 2023. "Switching from commissions on mutual funds to flat-fees: How are advisory clients affected?," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 423-449.

  14. Roman Inderst & Marco Ottaviani, 2012. "Competition through Commissions and Kickbacks," American Economic Review, American Economic Association, vol. 102(2), pages 780-809, April.

    Cited by:

    1. Zheyin (Jane) Gu & Yunchuan Liu, 2018. "Why would a big retailer refuse to collaborate on manufacturer SPIFF programs?," Quantitative Marketing and Economics (QME), Springer, vol. 16(4), pages 441-472, December.
    2. Balafoutas, Loukas & Kerschbamer, Rudolf, 2020. "Credence goods in the literature: What the past fifteen years have taught us about fraud, incentives, and the role of institutions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
    3. Roman Inderst & Kiryl Khalmetski & Axel Ockenfels, 2019. "Sharing Guilt: How Better Access to Information May Backfire," Management Science, INFORMS, vol. 65(7), pages 3322-3336, July.
    4. Simona Grassi & Ching-to Albert Ma, 2016. "Information Acquisition, Referral, and Organization," Boston University - Department of Economics - Working Papers Series wp2016-005, Boston University - Department of Economics.
    5. William Fuchs & Luis Garicano & Luis Rayo, 2015. "Optimal Contracting and the Organization of Knowledge," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(2), pages 632-658.
    6. Roland Bénabou & Jean Tirole, 2016. "Bonus Culture: Competitive Pay, Screening and Multitasking," Post-Print hal-04527031, HAL.
    7. Nikolai Roussanov & Hongxun Ruan & Yanhao Wei & Stijn Van Nieuwerburgh, 2021. "Marketing Mutual Funds," The Review of Financial Studies, Society for Financial Studies, vol. 34(6), pages 3045-3094.
    8. Sergei Kovbasyuk, 2013. "Seller - paid Ratings," EIEF Working Papers Series 1330, Einaudi Institute for Economics and Finance (EIEF), revised Nov 2013.
    9. Micael Castanheira De Moura & Carmine Ornaghi & Georges Siotis, 2019. "The Unexpected Consequences of Generic Entry," Working Papers ECARES 2019-21, ULB -- Universite Libre de Bruxelles.
    10. Loukas Balafoutas & Helena Fornwagner & Rudolf Kerschbamer & Matthias Sutter & Maryna Tverdostup, 2023. "Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets," ECONtribute Discussion Papers Series 257, University of Bonn and University of Cologne, Germany.
    11. Alexandre de Cornière & Greg Taylor, 2014. "Integration and search engine bias," Post-Print halshs-01510254, HAL.
    12. Bauer, Kevin & Gill, Andrej, 2021. "Mirror, mirror on the wall: Machine predictions and self-fulfilling prophecies," SAFE Working Paper Series 313, Leibniz Institute for Financial Research SAFE.
    13. Shubhranshu Singh, 2017. "Competition in Corruptible Markets," Marketing Science, INFORMS, vol. 36(3), pages 361-381, May.
    14. Felix Holzmeister & Martin Holmén & Michael Kirchler & Matthias Stefan & Erik Wengström, 2019. "Delegation Decisions in Finance," Working Papers 2019-21, Faculty of Economics and Statistics, Universität Innsbruck.
    15. Larry G. Epstein & Hiroaki Kaido & Kyoungwon Seo, 2015. "Robust Confidence Regions for Incomplete Models," Boston University - Department of Economics - Working Papers Series wp2015-008, Boston University - Department of Economics.
    16. John Gathergood & Joerg Weber, 2015. "Financial Literacy, Present Bias and Alternative Mortgage Products," Discussion Papers 2015/07, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    17. Dirk Bergemann & Alessandro Bonatti, 2022. "Data, Competition, and Digital Platforms," Cowles Foundation Discussion Papers 2343, Cowles Foundation for Research in Economics, Yale University.
    18. Ching-to Albert Ma & Henry Y. Mak, 2013. "Information Disclosure and the Equivalence of Prospective Payment and Cost Reimbursement," Boston University - Department of Economics - Working Papers Series 2013-018, Boston University - Department of Economics.
    19. Jon X. Eguia & Aniol Llorente-Saguer & Rebecca Morton & Antonio Nicolò, 2014. "Equilibrium Selection in Sequential Games with Imperfect Information," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2014_04, Max Planck Institute for Research on Collective Goods.
    20. Kai A. Konrad & Marcel Thum, 2021. "The better route to global tax coordination: Gradualism or multilateralism?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(2), pages 793-811, May.
    21. Angelova, Vera & Regner, Tobias, 2016. "Can a bonus overcome moral hazard? An experiment on voluntary payments, competition, and reputation in markets for expert services," SFB 649 Discussion Papers 2016-027, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    22. Dachen Sheng & Huijun Cheng & Minmin Yin, 2024. "Housing Developers’ Heterogeneous Decision-Making under Negative Shock after the High-Growth Era: Evidence from the Chinese Real Estate Economy," Mathematics, MDPI, vol. 12(12), pages 1-22, June.
    23. Roman Inderst & Marco Ottaviani, 2012. "Financial Advice," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 494-512, June.
    24. Jun Honda & Roman Inderst & Marco Ottaviani, 2024. "When Liability Is Not Enough: Regulating Bonus Payments in Markets with Advice," Management Science, INFORMS, vol. 70(2), pages 1301-1314, February.
    25. Aridor, Guy & Gonçalves, Duarte, 2022. "Recommenders’ originals: The welfare effects of the dual role of platforms as producers and recommender systems," International Journal of Industrial Organization, Elsevier, vol. 83(C).
    26. Gesche, Tobias, 2021. "De-biasing strategic communication," Games and Economic Behavior, Elsevier, vol. 130(C), pages 452-464.
    27. Matthias Hunold & Reinhold Kesler & Ulrich Laitenberger, 2020. "Rankings of Online Travel Agents, Channel Pricing, and Consumer Protection," Marketing Science, INFORMS, vol. 39(1), pages 92-116, January.
    28. Xiaomeng Lu & Jingna Xiao & Yu Wu, 2021. "Financial literacy and household asset allocation: Evidence from micro‐data in China," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(4), pages 1464-1488, December.
    29. Inderst, Roman, 2018. "Nonlinear Incentives and Advisor Bias," CEPR Discussion Papers 12914, C.E.P.R. Discussion Papers.
    30. Yangguang Huang, 2021. "Search Algorithm and Sales on Online Platforms: Evidence from Food Delivery Platforms," HKUST CEP Working Papers Series 202101, HKUST Center for Economic Policy.
    31. Alessandro De Chiara & Marco Alexander Schwarz, 2021. "A Dynamic Theory of Regulatory Capture," CESifo Working Paper Series 8968, CESifo.
    32. Jia Xie, 2019. "The Optimal Selling Strategy of Residential Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 59(3), pages 461-489, October.
    33. Matthew Mitchell, 2018. "Free (Ad)vice," 2018 Meeting Papers 1194, Society for Economic Dynamics.
    34. Ugo Panizza, 2015. "Billions on the Sidewalk: Improving Savings by Reducing Investment Mistakes," IHEID Working Papers 18-2015, Economics Section, The Graduate Institute of International Studies.
    35. Riccardo Calcagno & Maela Giofré & Maria Cesira Urzi-Brancati, 2017. "To trust is good, but to control is better : How investors discipline financial advisors’ activity," Post-Print hal-02312048, HAL.
    36. Miguel Angel Latorre Guillem, 2020. "The Customer Orientation Service of Spanish Brokers in the Insurance Industry: The Advisory Service of the Insurance Distribution Channel Bancassurance," Sustainability, MDPI, vol. 12(7), pages 1-22, April.
    37. Matthias Hunold & Ulrich Laitenberger & Guillaume Thébaudin, 2022. "Bye-box: An Analysis of Non-Promotion on the Amazon Marketplace 03.06.2022," Working Papers hal-04104183, HAL.
    38. Zhengqing Gui & Yangguang Huang & Xiaojian Zhao, 2021. "Financial Fraud and Investor Awareness," Monash Economics Working Papers 2021-06, Monash University, Department of Economics.
    39. Alcalde, Pilar & Vial, Bernardita, 2022. "Implicit trade‐offs in replacement rates: Consumer preferences for firms, intermediaries and annuity attributes," International Journal of Industrial Organization, Elsevier, vol. 82(C).
    40. Lagarde, Mylène & Blaauw, Duane, 2022. "Overtreatment and benevolent provider moral hazard: Evidence from South African doctors," Journal of Development Economics, Elsevier, vol. 158(C).
    41. Baridhi Malakar, 2024. "Essays on Responsible and Sustainable Finance," Papers 2406.12995, arXiv.org.
    42. Lagarde, Mylène & Blaauw, Duane, 2022. "Overtreatment and benevolent provider moral hazard: evidence from South African doctors," LSE Research Online Documents on Economics 115383, London School of Economics and Political Science, LSE Library.
    43. Waibel, Christian & Wiesen, Daniel, 2016. "Kickbacks, referrals and efficiency in health care markets: Experimental evidence," HERO Online Working Paper Series 2016:8, University of Oslo, Health Economics Research Programme.
    44. Wonsuk Chung & Rick Harbaugh, 2012. "Biased Recommendations," Working Papers 2012-02, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    45. Aghadadashli, Hamid & Dertwinkel-Kalt, Markus & Wey, Christian, 2016. "The Nash bargaining solution in vertical relations with linear input prices," Economics Letters, Elsevier, vol. 145(C), pages 291-294.
    46. Morgane Cure & Ulrich Laitenberger & Matthias Hunold & Reinhold Kesler & Thomas Larrieu, 2022. "Vertical integration of platforms and product prominence," Post-Print hal-03707038, HAL.
    47. Marc Bourreau & Germain Gaudin, 2022. "Streaming platform and strategic recommendation bias," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 31(1), pages 25-47, February.
    48. Angelova, Vera & Regner, Tobias, 2018. "Can a bonus overcome moral hazard? Experimental evidence from markets for expert services," Journal of Economic Behavior & Organization, Elsevier, vol. 154(C), pages 362-378.
    49. Melis Kartal & James Tremewan, 2016. "An offer you can refuse: the effects of transparency with endogenous conflict of interest," Vienna Economics Papers vie1602, University of Vienna, Department of Economics.
    50. Archishman Chakraborty & Rick Harbaugh, 2014. "Persuasive Puffery," Marketing Science, INFORMS, vol. 33(3), pages 382-400, May.
      • Archishman Chakraborty & Rick Harbaugh, 2012. "Persuasive Puffery," Working Papers 2012-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    51. Mohamed Mostagir & James Siderius, 2023. "Strategic Reviews," Management Science, INFORMS, vol. 69(2), pages 904-921, February.
    52. Yiquan Gu & Tobias Wenzel, 2014. "Strategic Obfuscation and Consumer Protection Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 62(4), pages 632-660, December.
    53. Holzmeister, Felix & Holmén, Martin & Kirchler, Michael & Stefan, Matthias & Wengström, Erik, 2019. "Delegated Decision-Making in Finance," OSF Preprints 3umdf, Center for Open Science.
    54. Yang Sun, 2021. "Index Fund Entry and Financial Product Market Competition," Management Science, INFORMS, vol. 67(1), pages 500-523, January.
    55. Tabea Bucher-Koenen & Andreas Hackethal & Johannes Koenen & Christine Laudenbach, 2021. "Gender Differences in Financial Advice," CRC TR 224 Discussion Paper Series crctr224_2021_273, University of Bonn and University of Mannheim, Germany.
    56. Huang, Yangguang & Xie, Yu, 2023. "Search algorithm, repetitive information, and sales on online platforms," International Journal of Industrial Organization, Elsevier, vol. 88(C).
    57. Balafoutas & Helena Fornwagner & Rudolf Kerschbamer & Matthias Sutter & Maryna Tverdostup, 2023. "Serving consumers in an uncertain world: A credence goods experiment," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2023_11, Max Planck Institute for Research on Collective Goods.
    58. Bo Zhou & Tianxin Zou, 2023. "Competing for Recommendations: The Strategic Impact of Personalized Product Recommendations in Online Marketplaces," Marketing Science, INFORMS, vol. 42(2), pages 360-376, March.
    59. Hui Song, 2021. "Prominence of store-brand products in an electronic platform," Journal of Economics, Springer, vol. 133(1), pages 47-83, June.
    60. Waibel, Christian & Wiesen, Daniel, 2021. "An experiment on referrals in health care," European Economic Review, Elsevier, vol. 131(C).
    61. Dell'Era, Michele, 2019. "Talking to Influence and the Consulting Paradox," MPRA Paper 93803, University Library of Munich, Germany.
    62. Amelia Fletcher & Peter L Ormosi & Rahul Savani, 2023. "Recommender Systems and Supplier Competition on Platforms," Journal of Competition Law and Economics, Oxford University Press, vol. 19(3), pages 397-426.
    63. Bruno Jullien & In-Uck Park, 2014. "New, Like New, or Very Good? Reputation and Credibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(4), pages 1543-1574.
    64. Mietzner, Mark & Molterer, Manuel, 2018. "You might not get what you need: The discrepancy between financial advice and commissions in Germany," Economics Letters, Elsevier, vol. 162(C), pages 167-170.
    65. Wonsuk Chung & Rick Harbaugh, 2019. "Biased recommendations from biased and unbiased experts," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 28(3), pages 520-540, June.
    66. Aleksandar Andonov, 2024. "Delegated Investment Management in Alternative Assets," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 13(1), pages 264-301.
    67. Johnson, Justin Pappas & Rhodes, Andrew & Wildenbeest, Matthijs, 2020. "Platform Design when Sellers Use Pricing Algorithms," TSE Working Papers 20-1146, Toulouse School of Economics (TSE).
    68. Minbo Xu & Daniel Z. Li, 2019. "Equilibrium competition, social welfare and corruption in procurement auctions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(3), pages 443-465, October.
    69. Opp, Christian C. & Opp, Marcus M. & Harris, Milton, 2013. "Rating agencies in the face of regulation," Journal of Financial Economics, Elsevier, vol. 108(1), pages 46-61.
    70. Angelova, Vera & Regner, Tobias, 2013. "Do voluntary payments to advisors improve the quality of financial advice? An experimental deception game," Journal of Economic Behavior & Organization, Elsevier, vol. 93(C), pages 205-218.
    71. Evans, R. & Park, I-U., 2022. "Third-Party Sale of Information," Cambridge Working Papers in Economics 2233, Faculty of Economics, University of Cambridge.
    72. Michele Dell’Era, 2018. "Financial Transaction Taxes and Expert Advice," Working and Discussion Papers WP 4/2018, Research Department, National Bank of Slovakia.
    73. Shen, Bo & Wright, Julian, 2019. "Why (don’t) firms free ride on an intermediary’s advice?," International Journal of Industrial Organization, Elsevier, vol. 64(C), pages 27-54.
    74. Chade, Hector & Kovrijnykh, Natalia, 2016. "Delegated information acquisition with moral hazard," Journal of Economic Theory, Elsevier, vol. 162(C), pages 55-92.
    75. Luis Arturo Lopez & Shawn J. McCoy & Vivek Sah, 2022. "Steering consumers to lenders in residential real estate markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1596-1641, November.
    76. Piera Bello, 2020. "Gender-based price discrimination in the annuity market: Evidence from Chile," IdEP Economic Papers 2002, USI Università della Svizzera italiana.
    77. Simon Board & Jay Lu, 2018. "Competitive Information Disclosure in Search Markets," Journal of Political Economy, University of Chicago Press, vol. 126(5), pages 1965-2010.
    78. Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.
    79. Meyer, Steffen & Uhr, Charline & Loos, Benjamin & Hackethal, Andreas, 2023. "Switching from commissions on mutual funds to flat-fees: How are advisory clients affected?," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 423-449.
    80. Wang-Ly, Nathan & Bateman, Hazel & Dobrescu, Isabella & Newell, Ben R. & Thorp, Susan, 2022. "Defaults, disclosures, advice and calculators: One size does not fit all," Journal of Behavioral and Experimental Finance, Elsevier, vol. 35(C).
    81. Max Thon & Oliver Gürtler & Matthias Heinz & Kai Schäfer & Dirk Sliwka, 2024. "Strategic incentives in intermediary markets: Field-experimental evidence," ECONtribute Discussion Papers Series 297, University of Bonn and University of Cologne, Germany.

  15. Ottaviani, Marco & Wickelgren, Abraham L., 2011. "Ex ante or ex post competition policy? A progress report," International Journal of Industrial Organization, Elsevier, vol. 29(3), pages 356-359, May.

    Cited by:

    1. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.
    2. Jean-Philippe Tropeano, 2020. "Ex ante or Ex post? When the timing of merger assessment is up to the merging firms," PSE-Ecole d'économie de Paris (Postprint) halshs-02875213, HAL.
    3. Andreea Cosnita-Langlais, 2016. "Enforcement of Merger Control. Theoretical Insights for Its Procedural Design," Revue économique, Presses de Sciences-Po, vol. 67(HS1), pages 39-51.
    4. Nicolas Le Pape & Kai Zhao, 2014. "Horizontal Mergers and Uncertainty," Post-Print halshs-01016702, HAL.
    5. Andreea Cosnita-Langlais & Jean‐philippe Tropeano, 2023. "Merger selection, evidence provision, and the timing of merger control," PSE-Ecole d'économie de Paris (Postprint) halshs-04632063, HAL.
    6. Andreea Cosnita-Langlais & Jean-Philippe Tropeano, 2013. "Ex post or ex ante? On the optimal timing of merger control," EconomiX Working Papers 2013-22, University of Paris Nanterre, EconomiX.
    7. Aura María García Pabón, editor & Ana María Pérez Herrán, editor & Ismael Beltrán Prado, editor, 2019. "Competencia económica : reflexiones sobre los diez años de la Ley 1340 de 2009," Books, Universidad Externado de Colombia, Facultad de Economía, number 80, htpr_v3_i.
    8. Ariel A. Casarin & Magdalena Cornejo & María Eugenia Delfino, 2020. "Market Power Absent Merger Review: Brewing in Perú," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(3), pages 535-556, May.
    9. Cosnita-Langlais, Andreea & Sørgard, Lars, 2014. "Enforcement vs Deterrence in Merger Control: Can Remedies Lead to Lower Welfare?," Discussion Paper Series in Economics 7/2014, Norwegian School of Economics, Department of Economics.
    10. Yingni Guo & Eran Shmaya, 2023. "Regret‐Minimizing Project Choice," Econometrica, Econometric Society, vol. 91(5), pages 1567-1593, September.

  16. Marco Ottaviani & Peter Norman Sorensen, 2010. "Noise, Information, and the Favorite-Longshot Bias in Parimutuel Predictions," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 58-85, February.

    Cited by:

    1. Tai, Chung-Ching & Lin, Hung-Wen & Chie, Bin-Tzong & Tung, Chen-Yuan, 2019. "Predicting the failures of prediction markets: A procedure of decision making using classification models," International Journal of Forecasting, Elsevier, vol. 35(1), pages 297-312.
    2. Emel Filiz-Ozbay & Jonathan Guryan & Kyle Hyndman & Melissa Schettini Kearney & Erkut Y. Ozbay, 2013. "Do Lottery Payments Induce Savings Behavior: Evidence from the Lab," NBER Working Papers 19130, National Bureau of Economic Research, Inc.
    3. Snowberg, Erik & Wolfers, Justin, 2010. "Explaining the Favorite-Longshot Bias: Is it Risk-Love or Misperceptions?," IZA Discussion Papers 4884, Institute of Labor Economics (IZA).
    4. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
    5. Feess, Eberhard & Müller, Helge & Schumacher, Christoph, 2016. "Estimating risk preferences of bettors with different bet sizes," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1102-1112.
    6. Kajii, Atsushi & Watanabe, Takahiro, 2017. "Favorite–longshot bias in pari-mutuel betting: An evolutionary explanation," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 56-69.
    7. Leighton Vaughan Williams & Ming‐Chien Sung & Peter A. F. Fraser‐Mackenzie & John Peirson & Johnnie E. V. Johnson, 2018. "Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory," Economica, London School of Economics and Political Science, vol. 85(338), pages 360-382, April.
    8. Whelan, Karl, 2022. "Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market," CEPR Discussion Papers 17518, C.E.P.R. Discussion Papers.
    9. Charles Moul & Joseph Keller, 2014. "Time to Unbridle U.S. Thoroughbred Racetracks? Lessons from Australian Bookies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 44(3), pages 211-239, May.
    10. Ulrik W. Nash, 2018. "Fair Odds for Noisy Probabilities," Papers 1811.12516, arXiv.org.
    11. Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2017. "On the Efficiency of Racetrack Betting Market: A New Test for the Favorite-Longshot Bias," Working papers 2017rwp-106, Yonsei University, Yonsei Economics Research Institute.
    12. Sung, Ming-Chien & McDonald, David C.J. & Johnson, Johnnie E.V. & Tai, Chung-Ching & Cheah, Eng-Tuck, 2019. "Improving prediction market forecasts by detecting and correcting possible over-reaction to price movements," European Journal of Operational Research, Elsevier, vol. 272(1), pages 389-405.
    13. Lionel Page & Robert T. Clemen, 2013. "Do Prediction Markets Produce Well‐Calibrated Probability Forecasts?-super-," Economic Journal, Royal Economic Society, vol. 123(568), pages 491-513, May.
    14. McAlvanah, Patrick & Moul, Charles C., 2013. "The house doesn’t always win: Evidence of anchoring among Australian bookies," Journal of Economic Behavior & Organization, Elsevier, vol. 90(C), pages 87-99.
    15. David Court & Benjamin Gillen & Jordi McKenzie & Charles Plott, 2015. "Two Information Aggregation Mechanisms for Predicting the Opening Weekend Box Office Revenues of Films: Boxoffice Prophecy and Guess of Guesses," Natural Field Experiments 00541, The Field Experiments Website.
    16. Lambert, Nicolas S. & Langford, John & Wortman Vaughan, Jennifer & Chen, Yiling & Reeves, Daniel M. & Shoham, Yoav & Pennock, David M., 2015. "An axiomatic characterization of wagering mechanisms," Journal of Economic Theory, Elsevier, vol. 156(C), pages 389-416.
    17. Zhang, Chi & Thijssen, Jacco, 2022. "On sticky bookmaking as a learning device in horse-racing betting markets," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    18. Yu, Dian & Gao, Jianjun & Wang, Tongyao, 2022. "Betting market equilibrium with heterogeneous beliefs: A prospect theory-based model," European Journal of Operational Research, Elsevier, vol. 298(1), pages 137-151.
    19. Matti Koivuranta & Marko Korhonen, 2019. "Misperception explains favorite-longshot bias: evidence from the Finnish and Swedish harness horse race markets," Empirical Economics, Springer, vol. 57(6), pages 2149-2160, December.
    20. Koessler, Frédéric & Noussair, Charles & Ziegelmeyer, Anthony, 2012. "Information aggregation and belief elicitation in experimental parimutuel betting markets," Journal of Economic Behavior & Organization, Elsevier, vol. 83(2), pages 195-208.

  17. Norbert Maier & Marco Ottaviani, 2009. "Information Sharing in Common Agency: When is Transparency Good?," Journal of the European Economic Association, MIT Press, vol. 7(1), pages 162-187, March.

    Cited by:

    1. Keeler Marku & Sergio Ocampo & Jean-Baptiste Tondji, 2022. "Robust Contracts in Common Agency," University of Western Ontario, Departmental Research Report Series 20222, University of Western Ontario, Department of Economics.
    2. Daniel Ripperger-Suhler, 2024. "Matching with Nonexclusive Contracts," Games, MDPI, vol. 15(2), pages 1-39, March.
    3. Gülen Karakoç & Marco Pagnozzi & Salvatore Piccolo, 2017. "The Value of Transparency in Dynamic Contracting with Entry," CSEF Working Papers 482, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    4. Salvatore Piccolo & Emanuele Tarantino, 2011. "Managerial Compensations and Information Sharing under Moral Hazard: Is Transparency Good?," CSEF Working Papers 294, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    5. Neven, Damien & Piccolo, Salvatore & Andreu, Enrique, 2021. "Price Authority and Information Sharing with Competing Principals," CEPR Discussion Papers 16753, C.E.P.R. Discussion Papers.
    6. Troya-Martinez, Marta, 2016. "Vagueness and information-sharing," Games and Economic Behavior, Elsevier, vol. 100(C), pages 301-320.
    7. Salvatore Piccolo, 2011. "Communicating Vertical Hierarchies: the Adverse Selection Case," CSEF Working Papers 273, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    8. Marco Pagnozzi & Salvatore Piccolo, 2012. "Information Sharing between Vertical Hierarchies," CSEF Working Papers 322, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    9. Piccolo, Salvatore & Tarantino, Emanuele & Ursino, Giovanni, 2015. "The value of transparency in multidivisional firms," International Journal of Industrial Organization, Elsevier, vol. 41(C), pages 9-18.
    10. Susumu Cato & Akifumi Ishihara, 2017. "Transparency and Performance Evaluation in Sequential Agency," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 33(3), pages 475-506.

  18. Marco Ottaviani, 2009. "The Design of Idea Markets: An Economist's Perspective," Journal of Prediction Markets, University of Buckingham Press, vol. 3(1), pages 41-44, April.

    Cited by:

    1. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.

  19. Marco Ottaviani & Peter Norman Sørensen, 2009. "Surprised by the Parimutuel Odds?," American Economic Review, American Economic Association, vol. 99(5), pages 2129-2134, December.

    Cited by:

    1. Bryan C. McCannon, 2015. "Replacement Referees and NFL Betting Markets," Working Papers 15-20, Department of Economics, West Virginia University.
    2. Emel Filiz-Ozbay & Jonathan Guryan & Kyle Hyndman & Melissa Schettini Kearney & Erkut Y. Ozbay, 2013. "Do Lottery Payments Induce Savings Behavior: Evidence from the Lab," NBER Working Papers 19130, National Bureau of Economic Research, Inc.
    3. Gustav Axén & Dominic Cortis, 2020. "Hedging on Betting Markets," Risks, MDPI, vol. 8(3), pages 1-14, August.
    4. Grüner, Hans Peter & Siemroth, Christoph, 2015. "Cutting out the Middleman: Crowdinvesting, Efficiency, and Inequality," CEPR Discussion Papers 10488, C.E.P.R. Discussion Papers.
    5. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
    6. Siemroth, Christoph, 2014. "Why prediction markets work : the role of information acquisition and endogenous weighting," Working Papers 14-29, University of Mannheim, Department of Economics.
    7. Feess, Eberhard & Müller, Helge & Schumacher, Christoph, 2016. "Estimating risk preferences of bettors with different bet sizes," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1102-1112.
    8. Leighton Vaughan Williams & Ming‐Chien Sung & Peter A. F. Fraser‐Mackenzie & John Peirson & Johnnie E. V. Johnson, 2018. "Towards an Understanding of the Origins of the Favourite–Longshot Bias: Evidence from Online Poker Markets, a Real‐money Natural Laboratory," Economica, London School of Economics and Political Science, vol. 85(338), pages 360-382, April.
    9. Marco Ottaviani & Peter Norman Sorensen, 2010. "Noise, Information, and the Favorite-Longshot Bias in Parimutuel Predictions," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 58-85, February.
    10. Whelan, Karl, 2022. "Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market," CEPR Discussion Papers 17518, C.E.P.R. Discussion Papers.
    11. Charles Moul & Joseph Keller, 2014. "Time to Unbridle U.S. Thoroughbred Racetracks? Lessons from Australian Bookies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 44(3), pages 211-239, May.
    12. Lionel Page & Robert T. Clemen, 2013. "Do Prediction Markets Produce Well‐Calibrated Probability Forecasts?-super-," Economic Journal, Royal Economic Society, vol. 123(568), pages 491-513, May.
    13. Lambert, Nicolas S. & Langford, John & Wortman Vaughan, Jennifer & Chen, Yiling & Reeves, Daniel M. & Shoham, Yoav & Pennock, David M., 2015. "An axiomatic characterization of wagering mechanisms," Journal of Economic Theory, Elsevier, vol. 156(C), pages 389-416.
    14. Suhonen, Niko & Saastamoinen, Jani & Kainulainen, Tuomo & Forrest, David, 2018. "Is timing everything in horse betting? Bet amount, timing and bettors’ returns in pari-mutuel wagering markets," Economics Letters, Elsevier, vol. 173(C), pages 97-99.
    15. Juan Vidal-Puga, 2017. "On the effect of taxation in the online sports betting market," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 8(2), pages 145-175, June.
    16. Erhan Bayraktar & Alexander Munk, 2016. "High-Roller Impact: A Large Generalized Game Model of Parimutuel Wagering," Papers 1605.03653, arXiv.org, revised Mar 2017.
    17. Joachim R. Groeger, 2016. "The Informational Content of the Limit Order Book: An Empirical Study of Prediction Markets," Papers 1609.03471, arXiv.org.

  20. Roman Inderst & Marco Ottaviani, 2009. "Misselling through Agents," American Economic Review, American Economic Association, vol. 99(3), pages 883-908, June.
    See citations under working paper version above.
  21. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2008. "Monopoly pricing in the binary herding model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 203-241, November.

    Cited by:

    1. Philipp Kircher & Andrew Postlewaite, 2008. "Strategic Firms and Endogenous Consumer Emulation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(2), pages 621-661.
    2. Liu, Ting & Schiraldi, Pasquale, 2007. "Social learning and monopolist's product launching strategy," LSE Research Online Documents on Economics 4921, London School of Economics and Political Science, LSE Library.
    3. Nicolás Figueroa & Carla Guadalupi, 2017. "Convincing early adopters: Price signals and Information transmission," Documentos de Trabajo 486, Instituto de Economia. Pontificia Universidad Católica de Chile..
    4. Gagnon-Bartsch, Tristan & Rosato, Antonio, 2022. "Quality is in the eye of the beholder: taste projection in markets with observational learning," MPRA Paper 115426, University Library of Munich, Germany.
    5. Hikmet Gunay, 2014. "Waiting for Signaling Quality," Southern Economic Journal, John Wiley & Sons, vol. 81(2), pages 364-386, October.
    6. Masaki Aoyagi & Manaswini Bhalla & Hikmet Gunay, 2014. "Social Learning and Delay in a Dynamic Model of Price Competition," ISER Discussion Paper 0909, Institute of Social and Economic Research, Osaka University.
    7. David Gill & Daniel Sgroi, 2011. "The Optimal Choice of Pre-Launch Reviewer," Economics Series Working Papers 562, University of Oxford, Department of Economics.
    8. Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2024. "Information Cascades and Social Learning," Journal of Economic Literature, American Economic Association, vol. 62(3), pages 1040-1093, September.
    9. Alessia Testa, 2019. "Path-dependent behavior and information leakage in financial markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 909-949, June.
    10. Lu, Danning & Wang, Pengyu, 2024. "Dynamic pricing for new experience products in pre-sale mode with social learning," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    11. Alexei Parakhonyak & Nick Vikander, 2013. "Optimal sales schemes for network goods," HSE Working papers WP BRP 41/EC/2013, National Research University Higher School of Economics.
    12. Arieli, Itai & Koren, Moran & Smorodinsky, Rann, 2022. "The implications of pricing on social learning," Theoretical Economics, Econometric Society, vol. 17(4), November.
    13. Alessandro Bonatti, 2011. "Menu Pricing and Learning," American Economic Journal: Microeconomics, American Economic Association, vol. 3(3), pages 124-163, August.
    14. Masaki Aoyagi, 2010. "Optimal Sales Schemes against Interdependent Buyers," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 150-182, February.
    15. Manuel Mueller-Frank & Mallesh M. Pai, 2016. "Social Learning with Costly Search," American Economic Journal: Microeconomics, American Economic Association, vol. 8(1), pages 83-109, February.
    16. Christoph Brunner & Jacob K. Goeree, 2009. "Wise crowds or wise minorities?," IEW - Working Papers 439, Institute for Empirical Research in Economics - University of Zurich.
    17. Ludmila Matyskova & Jan Sipek, 2017. "Manipulation of Cursed Beliefs in Online Reviews," CERGE-EI Working Papers wp586, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    18. Gill, David & Sgroi, Daniel, 2008. "The Optimal Choice of Pre-launch Reviewer: How Best to Transmit Information using Tests and Conditional Pricing," Economic Research Papers 269888, University of Warwick - Department of Economics.
    19. Kaiwei Zhang & Xi Weng & Xienan Cheng, 2022. "Optimal Pricing Schemes in the Presence of Social Learning and Costly Reporting," Papers 2211.07362, arXiv.org, revised Dec 2023.
    20. He, Qiao-Chu & Chen, Ying-Ju, 2018. "Dynamic pricing of electronic products with consumer reviews," Omega, Elsevier, vol. 80(C), pages 123-134.
    21. Parakhonyak, Alexei & Vikander, Nick, 2023. "Information design through scarcity and social learning," Journal of Economic Theory, Elsevier, vol. 207(C).
    22. Hongliang Li & Jun Liu & Jiangjie Qiu & Yunsen Zhou & Xu Zhang & Yuming Wang & Wei Guo, 2024. "ARIMA-Driven Vegetable Pricing and Restocking Strategy for Dual Optimization of Freshness and Profitability in Supermarket Perishables," Sustainability, MDPI, vol. 16(10), pages 1-26, May.
    23. Weng, Xi, 2015. "Dynamic pricing in the presence of individual learning," Journal of Economic Theory, Elsevier, vol. 155(C), pages 262-299.
    24. Alexei Parakhonyak & Nick Vikander, 2016. "Inducing Herding with Capacity Constraints," Economics Series Working Papers 808, University of Oxford, Department of Economics.
    25. Koren, Moran & Mueller-Frank, Manuel, 2022. "The welfare costs of informationally efficient prices," Games and Economic Behavior, Elsevier, vol. 131(C), pages 186-196.
    26. Mohsen Foroughifar & David Soberman, 2021. "Is More Precise Word of Mouth Better for a High Quality Firm? ... Not Always," Papers 2105.01040, arXiv.org, revised Apr 2022.
    27. Yanlin Chen & Jun Zhang, 2019. "Signaling by Bayesian Persuasion and Pricing Strategy. Short title: Disclosure and Price Signaling," Working Paper Series 2019/14, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    28. Ting Liu & Pasquale Schiraldi, 2012. "New product launch: herd seeking or herd preventing?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 627-648, November.
    29. Qian Ma & Biying Shou & Jianwei Huang & Tamer Başar, 2021. "Monopoly Pricing with Participation‐Dependent Social Learning About Quality of Service," Production and Operations Management, Production and Operations Management Society, vol. 30(11), pages 4004-4022, November.

  22. Kartik, Navin & Ottaviani, Marco & Squintani, Francesco, 2007. "Credulity, lies, and costly talk," Journal of Economic Theory, Elsevier, vol. 134(1), pages 93-116, May.

    Cited by:

    1. Jung, Hanjoon Michael, 2008. "Paradox of Credibility," MPRA Paper 7443, University Library of Munich, Germany.
    2. Brown, Martin & Schmitz, Jan & Zehnder, Christian, 2024. "Communication and hidden action: A credit market experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 218(C), pages 423-455.
    3. Roland Hodler & Simon Loertscher & Dominic Rohner, 2010. "Biased experts, costly lies, and binary decisions," IEW - Working Papers 496, Institute for Empirical Research in Economics - University of Zurich.
    4. Petra Persson, 2017. "Attention Manipulation and Information Overload," NBER Working Papers 23823, National Bureau of Economic Research, Inc.
    5. Ottaviani, Marco & Loseto, Marco, 2018. "Regulation with Experimentation: Ex Ante Approval, Ex Post Withdrawal, and Liability," CEPR Discussion Papers 13224, C.E.P.R. Discussion Papers.
    6. Antonio Cabrales & Piero Gottardi, 2008. "Markets for Information: Of Inefficient Firewalls and Efficient Monopolies," CESifo Working Paper Series 2336, CESifo.
    7. Navin Kartik, 2009. "Strategic Communication with Lying Costs," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(4), pages 1359-1395.
    8. Johannes Abeler & Armin Falk & Fabian Kosse, 2021. "Malleability of Preferences for Honesty," Working Papers 2021-021, Human Capital and Economic Opportunity Working Group.
    9. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
    10. J Abeler & A Becker & A Falk, 2012. "Truth-telling - A Representative Assessment," Discussion Papers 2012-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    11. Fudenberg, Drew & Gao, Ying & Pei, Harry, 2022. "A reputation for honesty," Journal of Economic Theory, Elsevier, vol. 204(C).
    12. Alberto Chong & Mark Gradstein, 2015. "On Education and Democratic Preferences," Economics and Politics, Wiley Blackwell, vol. 27(3), pages 362-388, November.
    13. Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The credit ratings game," Economics Working Papers 1149, Department of Economics and Business, Universitat Pompeu Fabra.
    14. Cesar Martinelli & Susan W Parker, 2007. "Deception and Misreporting in a Social Program," Levine's Bibliography 843644000000000191, UCLA Department of Economics.
    15. Pinghan Liang, 2013. "Exit and Voice: A Game-theoretic Analysis of Customer Complaint Management," Pacific Economic Review, Wiley Blackwell, vol. 18(2), pages 177-207, May.
    16. Adrian de Groot Ruiz & Theo Offerman & Sander Onderstal, 2011. "Equilibrium Selection in Cheap Talk Games: ACDC rocks when Other Criteria remain silent," Tinbergen Institute Discussion Papers 11-037/1, Tinbergen Institute, revised 31 Oct 2011.
    17. Sebastiano Della Lena, 2019. "Non-Bayesian Social Learning and the Spread of Misinformation in Networks," Working Papers 2019:09, Department of Economics, University of Venice "Ca' Foscari".
    18. Nicolas Jacquemet & Stéphane Luchini & Jason F Shogren & Adam Zylbersztejn, 2018. "Coordination with communication under oath," PSE-Ecole d'économie de Paris (Postprint) halshs-01480525, HAL.
    19. Battaglini, Marco & Lim, Wooyoung & Wang, Joseph Tao-yi & Lai, Ernest, 2016. "The Informational Theory of Legislative Committees: An Experimental Analysis," CEPR Discussion Papers 11356, C.E.P.R. Discussion Papers.
    20. Bo, Wang & Suli, Zheng, 2023. "Optimal overconfidence in the presence of information manipulation," Economics Letters, Elsevier, vol. 231(C).
    21. Baumann, Florian & Rasch, Alexander, 2019. "Injunctions against false advertising," DICE Discussion Papers 314, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE), revised 2019.
    22. Cabrales, Antonio & Feri, Francesco & Gottardi, Piero & Meléndez-Jiménez, Miguel A., 2020. "Can there be a market for cheap-talk information? An experimental investigation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 368-381.
    23. Kovác, Eugen & Mylovanov, Tymofiy, 2009. "Stochastic mechanisms in settings without monetary transfers: The regular case," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1373-1395, July.
    24. Vaccari, Federico, 2023. "Competition in costly talk," Journal of Economic Theory, Elsevier, vol. 213(C).
    25. Deimen, Inga & Szalay, Dezsö, 2014. "A Smooth, strategic communication," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 479, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    26. Philippe Jehiel & Frédéric Koessler, 2008. "Revisiting Games of Incomplete Information with Analogy-Based Expectations," PSE-Ecole d'économie de Paris (Postprint) halshs-00754297, HAL.
    27. Blau, Benjamin M. & DeLisle, Jared R. & Price, S. McKay, 2015. "Do sophisticated investors interpret earnings conference call tone differently than investors at large? Evidence from short sales," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 203-219.
    28. Roman Inderst & Marco Ottaviani, 2012. "Sales Talk, Cancellation Terms, and the Role of Consumer Protection," Working Papers 465, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    29. Mikhail Drugov & Marta Troya-Martinez, 2018. "Vague lies and lax standards of proof: On the law and economics of advice," Working Papers w0246, Center for Economic and Financial Research (CEFIR).
    30. Joseph Tao-yi Wang & Michael Spezio & Colin F. Camerer, 2010. "Pinocchio's Pupil: Using Eyetracking and Pupil Dilation to Understand Truth Telling and Deception in Sender-Receiver Games," American Economic Review, American Economic Association, vol. 100(3), pages 984-1007, June.
    31. Vincent P. Crawford & Miguel A. Costa-Gomes & Nagore Iriberri, 2010. "Strategic Thinking," Levine's Working Paper Archive 661465000000001148, David K. Levine.
    32. Dziuda, Wioletta, 2011. "Strategic argumentation," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1362-1397, July.
    33. Mikhail Golosov, 2009. "Dynamic Strategic Information Transmission," 2009 Meeting Papers 181, Society for Economic Dynamics.
    34. Damien Besancenot & Delphine Dubart & Radu Vranceanu, 2012. "The value of lies in an ultimatum game with imperfect information," Working Papers hal-00692139, HAL.
    35. Florian Ederer & Weicheng Min, 2022. "Bayesian Persuasion with Lie Detection," NBER Working Papers 30065, National Bureau of Economic Research, Inc.
    36. Raymond Deneckere & Sergei Severinov, 2022. "Signalling, screening and costly misrepresentation," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(3), pages 1334-1370, August.
    37. Shuo Liu & Dimitri Migrow, 2019. "Designing organizations in volatile markets," ECON - Working Papers 319, Department of Economics - University of Zurich.
    38. Daron Acemoglu & Alexander Wolitzky, 2012. "Cycles of Distrust: An Economic Model," NBER Working Papers 18257, National Bureau of Economic Research, Inc.
    39. Nguyen, Anh & Tan, Teck Yong, 2021. "Bayesian persuasion with costly messages," Journal of Economic Theory, Elsevier, vol. 193(C).
    40. Little, Andrew T., 2022. "Bayesian Explanations for Persuasion," OSF Preprints ygw8e, Center for Open Science.
    41. Giovannoni, Francesco & Xiong, Siyang, 2019. "Communication under language barriers," Journal of Economic Theory, Elsevier, vol. 180(C), pages 274-303.
    42. Heinrich, Timo & Brosig-Koch, Jeannette, 2015. "Promises and Social Distance in Buyer-Determined Procurement Auctions," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112892, Verein für Socialpolitik / German Economic Association.
    43. Velez, Rodrigo A., 2015. "Sincere and sophisticated players in an equal-income market," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1114-1129.
    44. Anton Kolotilin & Hongyi, 2020. "Relational Communication," Discussion Papers 2018-12b, School of Economics, The University of New South Wales.
    45. Albertazzi, Andrea & Ploner, Matteo & Vaccari, Federico, 2022. "Welfare in Experimental News Markets," FEEM Working Papers 329585, Fondazione Eni Enrico Mattei (FEEM).
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    Cited by:

    1. Di, Chen & Dimitrov, Stanko & He, Qi-Ming, 2019. "Incentive compatibility in prediction markets: Costly actions and external incentives," International Journal of Forecasting, Elsevier, vol. 35(1), pages 351-370.
    2. Béatrice Boulu-Reshef & Irene Comeig & Robert Donze & Gregory D. Weiss, 2016. "Risk aversion in prediction markets: A framed-field experiment," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01368197, HAL.
    3. Armantier, Olivier & Treich, Nicolas, 2010. "Eliciting Beliefs: Proper Scoring Rules, Incentives, Stakes and Hedging," IDEI Working Papers 643, Institut d'Économie Industrielle (IDEI), Toulouse.
    4. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
    5. Raphael Boleslavsky & David L Kelly & Curtis R Taylor, 2013. "Selloffs, Bailouts, and Feedback: Can Asset Markets Inform Policy," Working Papers 2013-11, University of Miami, Department of Economics.
    6. Veiga, Helena & Vorsatz, Marc, 2009. "Price manipulation in an experimental asset market," European Economic Review, Elsevier, vol. 53(3), pages 327-342, April.
    7. Spyros Galanis & Christos A. Ioannou & Stelios Kotronis, 2023. "Information Aggregation Under Ambiguity: Theory and Experimental Evidence," Department of Economics Working Papers 2023_04, Durham University, Department of Economics.
    8. Bin-Tzong Chie & Chih-Hwa Yang, 2021. "Efficiency of the Experimental Prediction Market: Public Information, Belief Evolution, and Personality Traits," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 11(4), pages 1-3.
    9. Marco Ottaviani & Peter Norman Sørensen, 2009. "Aggregation of Information and Beliefs: Asset Pricing Lessons from Prediction Markets," Discussion Papers 09-14, University of Copenhagen. Department of Economics.
    10. Urmee Khan, 2016. "State-dependent Preferences in Prediction Markets and Prices as Aggregate Statistic," Studies in Microeconomics, , vol. 4(1), pages 70-77, June.
    11. Lionel Page & Robert T. Clemen, 2013. "Do Prediction Markets Produce Well‐Calibrated Probability Forecasts?-super-," Economic Journal, Royal Economic Society, vol. 123(568), pages 491-513, May.
    12. Bo Cowgill & Eric Zitzewitz, 2015. "Corporate Prediction Markets: Evidence from Google, Ford, and Firm X," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(4), pages 1309-1341.
    13. Ahrash Dianat & Christoph Siemroth, 2021. "Improving decisions with market information: an experiment on corporate prediction markets," Experimental Economics, Springer;Economic Science Association, vol. 24(1), pages 143-176, March.
    14. Urmee Khan, 2016. "State-dependent Preferences in Prediction Markets and Prices as Aggregate Statistic," Working Papers 201609, University of California at Riverside, Department of Economics.
    15. Helena Veiga & Marc Vorsatz, 2008. "Aggregation and Dissemination of Information in Experimental Asset Markets in the Presence of a Manipulator," Working Papers 2008-29, FEDEA.
    16. Christoph Siemroth, 2021. "When Can Decision Makers Learn from Financial Market Prices?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(6), pages 1523-1552, September.
    17. Zhao, Yang & Yu, Min-Teh, 2020. "Predicting catastrophe risk: Evidence from catastrophe bond markets," Journal of Banking & Finance, Elsevier, vol. 121(C).

  24. Albert Banal‐Estañol & Marco Ottaviani, 2007. "Bank Mergers and Diversification: Implications for Competition Policy," European Financial Management, European Financial Management Association, vol. 13(3), pages 578-590, June.
    See citations under working paper version above.
  25. Subir Bose & Gerhard Orosel & Marco Ottaviani & Lise Vesterlund, 2006. "Dynamic monopoly pricing and herding," RAND Journal of Economics, RAND Corporation, vol. 37(4), pages 910-928, December.
    See citations under working paper version above.
  26. Ottaviani, Marco & Sorensen, Peter Norman, 2006. "Professional advice," Journal of Economic Theory, Elsevier, vol. 126(1), pages 120-142, January.
    See citations under working paper version above.
  27. Ottaviani, Marco & Sorensen, Peter Norman, 2006. "The strategy of professional forecasting," Journal of Financial Economics, Elsevier, vol. 81(2), pages 441-466, August.
    See citations under working paper version above.
  28. Marco Ottaviani & Francesco Squintani, 2006. "Naive audience and communication bias," International Journal of Game Theory, Springer;Game Theory Society, vol. 35(1), pages 129-150, December.

    Cited by:

    1. Gabriele Foà & Leonardo Gambacorta & Luigi Guiso & Paolo Emilio Mistrulli, 2015. "The supply side of household finance," BIS Working Papers 531, Bank for International Settlements.
    2. Navin Kartik, 2009. "Strategic Communication with Lying Costs," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(4), pages 1359-1395.
    3. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
    4. Kovác, Eugen & Mylovanov, Tymofiy, 2009. "Stochastic mechanisms in settings without monetary transfers: The regular case," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1373-1395, July.
    5. Vaccari, Federico, 2023. "Competition in costly talk," Journal of Economic Theory, Elsevier, vol. 213(C).
    6. Roman Inderst & Marco Ottaviani, 2012. "Sales Talk, Cancellation Terms, and the Role of Consumer Protection," Working Papers 465, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    7. Raghul S Venkatesh, 2018. "Communication and Commitment with Constraints," AMSE Working Papers 1856, Aix-Marseille School of Economics, France, revised Jul 2019.
    8. Gesche, Tobias, 2021. "De-biasing strategic communication," Games and Economic Behavior, Elsevier, vol. 130(C), pages 452-464.
    9. Francesc Dilmé, 2022. "Strategic Communication With a Small Conflict of Interest," CRC TR 224 Discussion Paper Series crctr224_2022_344, University of Bonn and University of Mannheim, Germany.
    10. Irene Valsecchi, 2013. "Non-uniqueness of equilibrium action profiles with equal size in one-shot cheap-talk games," Theory and Decision, Springer, vol. 74(1), pages 31-53, January.
    11. Jeanne Hagenbach & Frédéric Koessler, 2017. "Simple versus rich language in disclosure games," Post-Print hal-01629311, HAL.
    12. Vaccari, Federico, 2022. "Competition in Signaling," FEEM Working Papers 329582, Fondazione Eni Enrico Mattei (FEEM).
    13. Herrera, Helios & Glazer, Jacob & Perry, Motty, 2018. "Fake Persuasion," CEPR Discussion Papers 13244, C.E.P.R. Discussion Papers.
    14. Belot, Michele & van de Ven, Jeroen, 2013. "How private is private information? The ability to spot deception in an economic game," SIRE Discussion Papers 2013-111, Scottish Institute for Research in Economics (SIRE).
    15. Antinyan, Armenak & Corazzini, Luca & D'Agostino, Elena & Pavesi, Filippo, 2023. "Watch your words: An experimental study on communication and the opportunity cost of delegation," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 216-232.
    16. Ivan Balbuzanov, 2019. "Lies and consequences," International Journal of Game Theory, Springer;Game Theory Society, vol. 48(4), pages 1203-1240, December.
    17. Péter Eső & Ádám Galambos, 2013. "Disagreement and evidence production in strategic information transmission," International Journal of Game Theory, Springer;Game Theory Society, vol. 42(1), pages 263-282, February.
    18. Arnold Polanski & Mark Quement, 2023. "The battle of opinion: dynamic information revelation by ideological senders," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(2), pages 463-483, June.
    19. Ivanov, Maxim, 2010. "Informational control and organizational design," Journal of Economic Theory, Elsevier, vol. 145(2), pages 721-751, March.
    20. Gordon Rausser & Leo Simon & Jinhua Zhao, 2015. "Rational exaggeration and counter-exaggeration in information aggregation games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(1), pages 109-146, May.
    21. Lai, Ernest K., 2014. "Expert advice for amateurs," Journal of Economic Behavior & Organization, Elsevier, vol. 103(C), pages 1-16.
    22. Patrick Hummel & John Morgan & Phillip C. Stocken, 2013. "A model of flops," RAND Journal of Economics, RAND Corporation, vol. 44(4), pages 585-609, December.
    23. Vaccari, Federico, 2020. "Influential News and Policy-making," MPRA Paper 100464, University Library of Munich, Germany.
    24. Little, Andrew T., 2017. "Propaganda and credulity," Games and Economic Behavior, Elsevier, vol. 102(C), pages 224-232.
    25. Krähmer, Daniel & Kováč, Eugen, 2016. "Optimal sequential delegation," Journal of Economic Theory, Elsevier, vol. 163(C), pages 849-888.
    26. Tobias Gesche, 2016. "De-biasing strategic communication," ECON - Working Papers 216, Department of Economics - University of Zurich, revised Sep 2021.
    27. Kim, Kyungmin & Pogach, Jonathan, 2014. "Honesty vs. advocacy," Journal of Economic Behavior & Organization, Elsevier, vol. 105(C), pages 51-74.
    28. Chen, Ying, 2011. "Perturbed communication games with honest senders and naive receivers," Journal of Economic Theory, Elsevier, vol. 146(2), pages 401-424, March.
    29. Hernán, Roberto, 2012. "Information asymmetry and deception in the investment game," UC3M Working papers. Economics we1227, Universidad Carlos III de Madrid. Departamento de Economía.
    30. Venkatesh, Raghul S, 2017. "Cheap Talk with Strategic Substitutability," CRETA Online Discussion Paper Series 31, Centre for Research in Economic Theory and its Applications CRETA.
    31. Irma Clots-Figueras & Roberto Hernán González & Praveen Kujal, 2012. "Asymmetry and Deception in the Investment Game," Working Papers 12-23, Chapman University, Economic Science Institute.
    32. Denter, Philipp & Ginzburg, Boris, 2021. "Troll Farms and Voter Disinformation," MPRA Paper 109634, University Library of Munich, Germany.
    33. Raghul S Venkatesh, 2019. "Communication and Commitment with Constraints in International Alliances," Working Papers halshs-01962239, HAL.
    34. Angela Sutan & Radu Vranceanu, 2015. "Lying about Delegation," Working Papers hal-01109345, HAL.
    35. Alistair J. Wilson & Emanuel Vespa, 2012. "Communication With Multiple Senders and Multiple Dimensions: An Experiment," Working Paper 384, Department of Economics, University of Pittsburgh, revised Mar 2012.
    36. Leonardo Gambacorta & Luigi Guiso & Paolo Emilio Mistrulli & Andrea Pozzi & Anton Tsoy, 2019. "The Cost of Steering in Financial Markets: Evidence from the Mortgage Market," Temi di discussione (Economic working papers) 1252, Bank of Italy, Economic Research and International Relations Area.
    37. Jindapon, Paan & Oyarzun, Carlos, 2013. "Persuasive communication when the sender's incentives are uncertain," Journal of Economic Behavior & Organization, Elsevier, vol. 95(C), pages 111-125.
    38. Alistair Wilson & Emanuel Vespa, 2012. "Communication With Multiple Senders and Multiple Dimensions: An Experiment," Working Paper 461, Department of Economics, University of Pittsburgh, revised Sep 2012.
    39. Behnk, Sascha & Barreda-Tarrazona, Iván & García-Gallego, Aurora, 2014. "The role of ex post transparency in information transmission—An experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 101(C), pages 45-64.
    40. Ascensión Andina‐Díaz, 2012. "Screening and Signaling in Communication," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(2), pages 480-499, June.
    41. Lee, Yong-Ju & Lim, Wooyoung & Zhao, Chen, 2023. "Cheap talk with prior-biased inferences," Games and Economic Behavior, Elsevier, vol. 138(C), pages 254-280.
    42. Federico Vaccari, 2022. "Efficient Communication in Organizations," Working Papers 2022.39, Fondazione Eni Enrico Mattei.
    43. Eilat, Ran & Neeman, Zvika, 2023. "Communication with endogenous deception costs," Journal of Economic Theory, Elsevier, vol. 207(C).
    44. Kartik, Navin & Ottaviani, Marco & Squintani, Francesco, 2007. "Credulity, lies, and costly talk," Journal of Economic Theory, Elsevier, vol. 134(1), pages 93-116, May.
    45. Boris Knapp, 2021. "Fake Reviews and Naive Consumers," Vienna Economics Papers vie2102, University of Vienna, Department of Economics.
    46. Sanjiv Erat & Uri Gneezy, 2012. "White Lies," Management Science, INFORMS, vol. 58(4), pages 723-733, April.
    47. Benjamin Young, 2022. "Misperception and Cognition in Markets," Games, MDPI, vol. 13(6), pages 1-15, October.
    48. Sascha Behnk & Iván Barreda-Tarrazona & Aurora García-Gallego, 2012. "Reducing deception through subsequent transparency - An experimental investigation," Working Papers 2012/14, Economics Department, Universitat Jaume I, Castellón (Spain).
    49. Grillo, Edoardo, 2016. "The hidden cost of raising voters’ expectations: Reference dependence and politicians’ credibility," Journal of Economic Behavior & Organization, Elsevier, vol. 130(C), pages 126-143.
    50. Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.
    51. Leonardo Gambacorta & Luigi Guiso & Paolo Mistrulli & Andrea Pozzi & Anton Tsoy, 2017. "The Cost of Distorted Financial Advice - Evidence from the Mortgage Market," EIEF Working Papers Series 1713, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2017.
    52. Satoshi Kasamatsu & Daiki Kishishita, 2022. "Informative campaigning in multidimensional politics: The role of naïve voters," Journal of Theoretical Politics, , vol. 34(1), pages 78-106, January.
    53. Alistair J. Wilson & Emanuel Vespa, 2012. "Communication With Multiple Senders and Multiple Dimensions: An Experiment," Working Paper 401, Department of Economics, University of Pittsburgh, revised Mar 2012.

  29. Albert Banal‐Estañol & Marco Ottaviani, 2006. "Mergers with Product Market Risk," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(3), pages 577-608, September.
    See citations under working paper version above.
  30. Marco Ottaviani & Peter Norman Sørensen, 2006. "Reputational cheap talk," RAND Journal of Economics, RAND Corporation, vol. 37(1), pages 155-175, March.

    Cited by:

    1. Francisco Silva, 2020. "An informational Ponzi-scheme," Documentos de Trabajo 539, Instituto de Economia. Pontificia Universidad Católica de Chile..
    2. Ozerturk, Saltuk, 2022. "Media access, bias and public opinion," European Economic Review, Elsevier, vol. 147(C).
    3. Guembel, Alexander & Rossetto, Silvia, 2009. "Reputational cheap talk with misunderstanding," Games and Economic Behavior, Elsevier, vol. 67(2), pages 736-744, November.
    4. Dessein, Wouter & Che, Yeon-Koo & Kartik, Navin, 2010. "Pandering to Persuade," CEPR Discussion Papers 7970, C.E.P.R. Discussion Papers.
    5. Doherty, Neil A. & Kartasheva, Anastasia V. & Phillips, Richard D., 2012. "Information effect of entry into credit ratings market: The case of insurers' ratings," Journal of Financial Economics, Elsevier, vol. 106(2), pages 308-330.
    6. Antonio Cabrales & Piero Gottardi, 2008. "Markets for Information: Of Inefficient Firewalls and Efficient Monopolies," CESifo Working Paper Series 2336, CESifo.
    7. Pierpaolo Battigalli & Martin Dufwenberg, 2005. "Dynamic Psychological Games," Working Papers 287, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    8. Balmaceda, Felipe, 2021. "Private vs. public communication: Difference of opinion and reputational concerns," Journal of Economic Theory, Elsevier, vol. 196(C).
    9. Hahn, Volker, 2017. "Committee design with endogenous participation," Games and Economic Behavior, Elsevier, vol. 102(C), pages 388-408.
    10. Fudenberg, Drew & Gao, Ying & Pei, Harry, 2022. "A reputation for honesty," Journal of Economic Theory, Elsevier, vol. 204(C).
    11. Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The credit ratings game," Economics Working Papers 1149, Department of Economics and Business, Universitat Pompeu Fabra.
    12. Noriyuki Yanagawa, 2008. "Biased Motivation of Experts: Should They be Aggressive or Conservative?," CARF F-Series CARF-F-133, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    13. Floyd Jiuyun Zhang, 2023. "Political endorsement by Nature and trust in scientific expertise during COVID-19," Nature Human Behaviour, Nature, vol. 7(5), pages 696-706, May.
    14. Marco Ottaviani & Peter Norman Sorensen, 2001. "The Strategy of Professional Forecasting," Discussion Papers 01-09, University of Copenhagen. Department of Economics.
    15. Camara, Fanny & Dupuis, Nicolas, 2014. "Structural Estimation of Expert Strategic Bias: The Case of Movie Reviewers," TSE Working Papers 14-534, Toulouse School of Economics (TSE).
    16. Ganuza, Juan-José & Penalva, Jose, 2019. "Information disclosure in optimal auctions," International Journal of Industrial Organization, Elsevier, vol. 63(C), pages 460-479.
    17. Catonini, Emiliano & Kurbatov, Andrey & Stepanov, Sergey, 2024. "Independent versus collective expertise," Games and Economic Behavior, Elsevier, vol. 143(C), pages 340-356.
    18. Mariano, Beatriz, 2012. "Market power and reputational concerns in the ratings industry," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1616-1626.
    19. Alessandro Acquisti, 2014. "Inducing Customers to Try New Goods," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 44(2), pages 131-146, March.
    20. Joana Almeida & Raquel M. Gaspar, 2021. "Accuracy of European Stock Target Prices," JRFM, MDPI, vol. 14(9), pages 1-27, September.
    21. Mikhail Golosov, 2009. "Dynamic Strategic Information Transmission," 2009 Meeting Papers 181, Society for Economic Dynamics.
    22. Aleksei Smirnov & Egor Starkov, 2019. "Timing of predictions in dynamic cheap talk: experts vs. quacks," ECON - Working Papers 334, Department of Economics - University of Zurich.
    23. Stephen Hansen & Michael McMahon & Andrea Prat, 2014. "Transparency and Deliberation within the FOMC: A Computational Linguistics Approach," CEP Discussion Papers dp1276, Centre for Economic Performance, LSE.
    24. Kolb, Aaron & Conitzer, Vincent, 2020. "Crying about a strategic wolf: A theory of crime and warning," Journal of Economic Theory, Elsevier, vol. 189(C).
    25. Filippo Pavesi & Massimo Scotti, 2019. "Good Lies," Working Paper Series 39, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    26. Kurschilgen, Michael & Marcin, Isabel, 2019. "Communication is more than information sharing: The role of status-relevant knowledge," Games and Economic Behavior, Elsevier, vol. 113(C), pages 651-672.
    27. Liu, Yaozhou Franklin & Sanyal, Amal, 2010. "When second opinions hurt: a model of expert advice under career concerns," MPRA Paper 27176, University Library of Munich, Germany.
    28. Miriam Schütte & Philipp C. Wichardt, 2012. "Delegation in Long-Term Relationships," SOEPpapers on Multidisciplinary Panel Data Research 480, DIW Berlin, The German Socio-Economic Panel (SOEP).
    29. Dino Gerardi & Richard McLean & Andrew Postlewaite, 2005. "Aggregation of Expert Opinions," Cowles Foundation Discussion Papers 1503, Cowles Foundation for Research in Economics, Yale University.
    30. Chia-Hui Chen & Junichiro Ishida, 2014. "Careerist Experts and Political Incorrectness," ISER Discussion Paper 0894, Institute of Social and Economic Research, Osaka University.
    31. Yves Oytana & Nathalie Chappe, 2016. "Expert opinion in a tort litigation game," EconomiX Working Papers 2016-23, University of Paris Nanterre, EconomiX.
    32. Bar-Isaac Heski, 2012. "Transparency, Career Concerns, and Incentives for Acquiring Expertise," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 12(1), pages 1-15, January.
    33. Benjamin Davies, 2022. "Why do experts give simple advice?," Papers 2209.11710, arXiv.org.
    34. Otto H. Swank & Bauke Visser, 2009. "Decision Making and Learning in a Globalizing World," Economics Working Papers ECO2009/20, European University Institute.
    35. Alex Cukierman & Thomas Lustenberger, 2018. "International Evidence on Professional Interest Rate Forecasts: The Impact of Forecasting Ability," Working Papers 2018-10, Swiss National Bank.
    36. Edoardo Grillo, 2014. "Reference Dependence and Politicians' Credibility," Carlo Alberto Notebooks 353, Collegio Carlo Alberto.
    37. Catonini, Emiliano & Stepanov, Sergey, 2023. "Reputation and information aggregation," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 156-173.
    38. Xiaojing Meng, 2015. "Analyst Reputation, Communication, and Information Acquisition," Journal of Accounting Research, Wiley Blackwell, vol. 53(1), pages 119-173, March.
    39. Di Maggio, Marco, 2009. "Accountability and Cheap Talk," MPRA Paper 18652, University Library of Munich, Germany.
    40. Jia Xie, 2019. "The Optimal Selling Strategy of Residential Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 59(3), pages 461-489, October.
    41. Archishman Chakraborty & Rick Harbaugh, 2010. "Persuasion by Cheap Talk," American Economic Review, American Economic Association, vol. 100(5), pages 2361-2382, December.
      • Archishman Chakraborty & Rick Harbaugh, 2006. "Persuasion by Cheap Talk," Working Papers 2006-10, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy, revised Oct 2009.
    42. Schottmüller, Christoph, 2019. "Too good to be truthful: Why competent advisers are fired," Journal of Economic Theory, Elsevier, vol. 181(C), pages 333-360.
    43. Bourjade, Sylvain & Jullien, Bruno, 2011. "The roles of reputation and transparency on the behavior of biased experts," MPRA Paper 34813, University Library of Munich, Germany.
    44. Sara Hagemann & Fabio Franchino, 2016. "Transparency vs efficiency? A study of negotiations in the Council of the European Union," European Union Politics, , vol. 17(3), pages 408-428, September.
    45. Kiryl Khalmetski & Dirk Sliwka, 2019. "Disguising Lies—Image Concerns and Partial Lying in Cheating Games," American Economic Journal: Microeconomics, American Economic Association, vol. 11(4), pages 79-110, November.
    46. Stefano Bonini & Laura Zanetti & Roberto Bianchini & Antonio Salvi, 2010. "Target Price Accuracy in Equity Research," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(9‐10), pages 1177-1217, November.
    47. Park, Hyungmin & Squintani, Francesco, 2024. "The Choice of Political Advisors," The Warwick Economics Research Paper Series (TWERPS) 1507, University of Warwick, Department of Economics.
    48. Juan Pablo Couyoumdjian, 2008. "An Expert at Work: Revisiting Jeremy Bentham's Proposals on Codification," Kyklos, Wiley Blackwell, vol. 61(4), pages 503-519, November.
    49. Kim-Sau Chung & Peter Eso, 2007. "Signalling with Career Concerns," Discussion Papers 1443, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    50. Michael P. Clements, 2020. "Do Survey Joiners and Leavers Differ from Regular Participants? The US SPF GDP Growth and Inflation Forecasts," ICMA Centre Discussion Papers in Finance icma-dp2020-01, Henley Business School, University of Reading.
    51. Pierpaolo Battigalli & Martin Dufwenberg, 2022. "Belief-Dependent Motivations and Psychological Game Theory," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 833-882, September.
    52. Joan Esteban & Facundo Albornoz & Paolo Vanin, 2009. "Government Information Transparency," UFAE and IAE Working Papers 774.09, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 10 Feb 2010.
    53. Thomas, Caroline, 2019. "Experimentation with reputation concerns – Dynamic signalling with changing types," Journal of Economic Theory, Elsevier, vol. 179(C), pages 366-415.
    54. Rudiger, Jesper & Vigier, Adrien, 2013. "Financial Experts, Asset Prices and Reputation," MPRA Paper 51784, University Library of Munich, Germany.
    55. Iossa, Elisabetta & Jullien, Bruno, 2007. "The Market for Lawyers: The Value of Information on the Quality of Legal Services," IDEI Working Papers 485, Institut d'Économie Industrielle (IDEI), Toulouse.
    56. Blume, Andreas & Lai, Ernest K. & Lim, Wooyoung, 2019. "Eliciting private information with noise: The case of randomized response," Games and Economic Behavior, Elsevier, vol. 113(C), pages 356-380.
    57. Pai, Mallesh & Deb, Rahul & Mitchell, Matthew, 2020. "(Bad) Reputation in Relational Contracting," CEPR Discussion Papers 14408, C.E.P.R. Discussion Papers.
    58. Volker Hahn, 2010. "Sequential Aggregation of Verifiable Information," CER-ETH Economics working paper series 10/136, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    59. Nica, Melania, 2023. "Reputation formation and reinforcement of biases in a post-truth world," Journal of Economic Behavior & Organization, Elsevier, vol. 215(C), pages 455-478.
    60. Luca Braghieri, 2023. "Biased Decoding and the Foundations of Communication," CESifo Working Paper Series 10432, CESifo.
    61. Saltuk Ozerturk, 2007. "Stock recommendation of an analyst who trades on own account," RAND Journal of Economics, RAND Corporation, vol. 38(3), pages 768-785, September.
    62. Archishman Chakraborty & Rick Harbaugh, 2014. "Persuasive Puffery," Marketing Science, INFORMS, vol. 33(3), pages 382-400, May.
      • Archishman Chakraborty & Rick Harbaugh, 2012. "Persuasive Puffery," Working Papers 2012-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    63. Lukyanov, Georgy, 2023. "Reputation for competence in a cheap-talk setting," Research in Economics, Elsevier, vol. 77(3), pages 285-294.
    64. Anbarci, Nejat & Ghosh, Saptarshi P. & Roy, Jaideep, 2017. "Information control in reputational cheap talk," Games and Economic Behavior, Elsevier, vol. 106(C), pages 153-160.
    65. Jesse M. Shapiro, 2014. "Special Interests and the Media: Theory and an Application to Climate Change," NBER Working Papers 19807, National Bureau of Economic Research, Inc.
    66. Li, Wei, 2010. "Signaling drive over the long term," Economics Letters, Elsevier, vol. 109(3), pages 164-167, December.
    67. Atakan, Alp & Koçkesen, Levent & Kubilay, Elif, 2020. "Starting small to communicate," Games and Economic Behavior, Elsevier, vol. 121(C), pages 265-296.
    68. Bruno Jullien & In-Uck Park, 2011. "Seller Reputation and Trust in Pre-Trade Communication," The Centre for Market and Public Organisation 11/272, The Centre for Market and Public Organisation, University of Bristol, UK.
    69. Eraslan, Hulya & Ozerturk, Saltuk, 2017. "Information Gatekeeping and Media Bias," Working Papers 17-001, Rice University, Department of Economics.
    70. Dasgupta, Amil & Sarafidis, Yianis, 2009. "Managers as administrators: Reputation and incentives," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 155-163, May.
    71. Miriam Schütte & Philipp Christoph Wichardt, 2013. "Delegation and Interim Performance Evaluation," CESifo Working Paper Series 4193, CESifo.
    72. Raphaela Hennigs, 2021. "Conflict prevention by Bayesian persuasion," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(4), pages 710-731, August.
    73. Camara, Fanny, 2019. "Avoiding Judgement by Recommending Inaction: Beliefs Manipulation and Reputational Concerns," CEPR Discussion Papers 14149, C.E.P.R. Discussion Papers.
    74. Rahul Deb & Matthew Mitchell & Mallesh Pai, 2019. "Our distrust is very expensive," Working Papers tecipa-632, University of Toronto, Department of Economics.
    75. Bruno Jullien & In-Uck Park, 2014. "New, Like New, or Very Good? Reputation and Credibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(4), pages 1543-1574.
    76. Loerke, Petra & Niedermayer, Andreas, 2015. "Crises and Rating Agencies," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 521, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    77. OZERTURK, Saltuk, 2005. "Stock recommendation of an analyst who trades on own account," LIDAM Discussion Papers CORE 2005089, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    78. Ghosh, Saptarshi P. & Roy, Jaideep, 2015. "Committees with leaks," Games and Economic Behavior, Elsevier, vol. 90(C), pages 207-214.
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    83. Eilat, Ran & Neeman, Zvika, 2023. "Communication with endogenous deception costs," Journal of Economic Theory, Elsevier, vol. 207(C).
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    88. Klein, Nicolas & Mylovanov, Tymofiy, 2017. "Will truth out?—An advisor’s quest to appear competent," Journal of Mathematical Economics, Elsevier, vol. 72(C), pages 112-121.
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    90. Noriyuki Yanagawa, 2008. "Biased Motivation of Experts: Should They be Aggressive or Conservative?," CIRJE F-Series CIRJE-F-585, CIRJE, Faculty of Economics, University of Tokyo.
    91. Tomoya Tajika, 2021. "Persistent and snap decision‐making," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(1), pages 203-227, February.
    92. Tamada, Yasunari & Tsai, Tsung-Sheng, 2009. "The Allocation of Decision-Making Authority when Principal has Reputation Concerns," MPRA Paper 20225, University Library of Munich, Germany.
    93. Bizer, Kilian & Meub, Lukas & Proeger, Till & Spiwoks, Markus, 2014. "Strategic coordination in forecasting: An experimental study," University of Göttingen Working Papers in Economics 195, University of Goettingen, Department of Economics.
    94. Rieder, Kilian, 2022. "Monetary policy decision-making by committee: Why, when and how it can work," European Journal of Political Economy, Elsevier, vol. 72(C).
    95. Miklos-Thal, Jeanine & Ullrich, Hannes, 2010. "Effort in Nomination Contests: Evidence from Professional Soccer," MPRA Paper 24340, University Library of Munich, Germany.
    96. Hidir, Sinem, 2017. "Information Acquisition and Credibility in Cheap Talk," CRETA Online Discussion Paper Series 36, Centre for Research in Economic Theory and its Applications CRETA.
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  31. Jérôme Adda & Marco Ottaviani & Paul Seabright, 2005. "The transition to digital television [‘Balladurette and Juppette: A discrete analysis of scrapping subsidies’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 20(41), pages 160-209.

    Cited by:

    1. Chou, Yuntsai, 2014. "The stalemate of cable digital switchover: A study of competition effects and deregulation," Telecommunications Policy, Elsevier, vol. 38(4), pages 393-405.
    2. Collard, Fabrice & Licandro, Omar, 2021. "The Neoclassical Model and the Welfare Costs of Selection," TSE Working Papers 21-1246, Toulouse School of Economics (TSE).
    3. Ratidanai Hoonsawat, 2013. "Technological Migration: The Case of Thai Digital Terrestrial Television," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 20(2), pages 1-22, December.
    4. Amnon Levy & Benoit Freyens, 2011. "Optimal Control of Broadcasting Spectrum with a Variety-Reception Tradeoff and Consumers’ Income Sensitivity," Economics Working Papers wp11-14, School of Economics, University of Wollongong, NSW, Australia.
    5. Liu, Chorng-Jian & Chuang, Yi-Fei, 2015. "From Sluggish to Brisk: An analysis of Taiwan׳s cable TV digitalization policy," Telecommunications Policy, Elsevier, vol. 39(11), pages 980-995.
    6. Andreas Hadamitzky & Korbinian Von Blanckenburg & Christof Backhaus, 2007. "Die Bereitstellung von öffentlich‐rechtlichen Fernseh‐ und Rundfunkprogrammen: Eine Analyse auf Basis der Kollektivgütertheorie," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(3), pages 256-278, August.
    7. Paul Fenn & David Paton & Leighton Vaughan Williams, 2009. "Productivity growth and funding of public service broadcasting," Public Choice, Springer, vol. 141(3), pages 335-349, December.
    8. Hasbi, Maude, 2015. "Universal service obligations and public payphone use: Is regulation still necessary in the era of mobile telephony?," Telecommunications Policy, Elsevier, vol. 39(5), pages 421-435.
    9. Amnon Levy & Michael R. Caputo & Benoît Pierre Freyens, 2013. "Royalties, Entry and Spectrum Allocation to Broadcasting," Economics Working Papers wp13-02, School of Economics, University of Wollongong, NSW, Australia.

  32. Jérôme Adda & Marco Ottaviani & Paul Seabright, 2005. "The transition to digital television [‘Balladurette and Juppette: A discrete analysis of scrapping subsidies’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 20(41), pages 160-209.

    Cited by:

    1. Chou, Yuntsai, 2014. "The stalemate of cable digital switchover: A study of competition effects and deregulation," Telecommunications Policy, Elsevier, vol. 38(4), pages 393-405.
    2. Collard, Fabrice & Licandro, Omar, 2021. "The Neoclassical Model and the Welfare Costs of Selection," TSE Working Papers 21-1246, Toulouse School of Economics (TSE).
    3. Ratidanai Hoonsawat, 2013. "Technological Migration: The Case of Thai Digital Terrestrial Television," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 20(2), pages 1-22, December.
    4. Amnon Levy & Benoit Freyens, 2011. "Optimal Control of Broadcasting Spectrum with a Variety-Reception Tradeoff and Consumers’ Income Sensitivity," Economics Working Papers wp11-14, School of Economics, University of Wollongong, NSW, Australia.
    5. Liu, Chorng-Jian & Chuang, Yi-Fei, 2015. "From Sluggish to Brisk: An analysis of Taiwan׳s cable TV digitalization policy," Telecommunications Policy, Elsevier, vol. 39(11), pages 980-995.
    6. Andreas Hadamitzky & Korbinian Von Blanckenburg & Christof Backhaus, 2007. "Die Bereitstellung von öffentlich‐rechtlichen Fernseh‐ und Rundfunkprogrammen: Eine Analyse auf Basis der Kollektivgütertheorie," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(3), pages 256-278, August.
    7. Paul Fenn & David Paton & Leighton Vaughan Williams, 2009. "Productivity growth and funding of public service broadcasting," Public Choice, Springer, vol. 141(3), pages 335-349, December.
    8. Hasbi, Maude, 2015. "Universal service obligations and public payphone use: Is regulation still necessary in the era of mobile telephony?," Telecommunications Policy, Elsevier, vol. 39(5), pages 421-435.
    9. Amnon Levy & Michael R. Caputo & Benoît Pierre Freyens, 2013. "Royalties, Entry and Spectrum Allocation to Broadcasting," Economics Working Papers wp13-02, School of Economics, University of Wollongong, NSW, Australia.

  33. Moscarini, Giuseppe & Ottaviani, Marco, 2001. "Price Competition for an Informed Buyer," Journal of Economic Theory, Elsevier, vol. 101(2), pages 457-493, December.
    See citations under working paper version above.
  34. Marco Ottaviani & Andrea Prat, 2001. "The Value of Public Information in Monopoly," Econometrica, Econometric Society, vol. 69(6), pages 1673-1683, November.
    See citations under working paper version above.
  35. Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September.

    Cited by:

    1. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.
    2. Prat, Andrea, 2003. "The Wrong Kind of Transparency," CEPR Discussion Papers 3859, C.E.P.R. Discussion Papers.
    3. Gabriel Desgranges & Céline Rochon, 2013. "Conformism and public news," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(3), pages 1061-1090, April.
    4. Huihui Ding & Marcus Pivato, 2021. "Deliberation and epistemic democracy," Post-Print hal-03637874, HAL.
    5. Kishishita, Daiki & Yamagishi, Atsushi, 2021. "Contagion of populist extremism," Journal of Public Economics, Elsevier, vol. 193(C).
    6. Fehrler, Sebastian & Janas, Moritz, 2021. "Delegation to a Group," IZA Discussion Papers 14426, Institute of Labor Economics (IZA).
    7. Bernard Caillaud & Jean Tirole, 2007. "Consensus Building: How to Persuade a Group," PSE-Ecole d'économie de Paris (Postprint) halshs-00754650, HAL.
    8. Ascensión Andina-Díaz & José A. García-Martínez, 2014. "Media silence, feedback power and reputation," Working Papers 2014-03, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    9. Hans Gersbach & Volker Hahn, 2008. "Should the individual voting records of central bankers be published?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 30(4), pages 655-683, May.
    10. Balmaceda, Felipe, 2021. "Private vs. public communication: Difference of opinion and reputational concerns," Journal of Economic Theory, Elsevier, vol. 196(C).
    11. Hahn, Volker, 2017. "Committee design with endogenous participation," Games and Economic Behavior, Elsevier, vol. 102(C), pages 388-408.
    12. Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
    13. Levy, Gilat, 2004. "Anti-herding and strategic consultation," LSE Research Online Documents on Economics 541, London School of Economics and Political Science, LSE Library.
    14. Otto H. Swank & Bauke Visser, 2015. "Learning from Others? Decision Rights, Strategic Communication, and Reputational Concerns," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 109-149, November.
    15. Klaas J. Beniers & Robert A.J. Dur & Otto H. Swank, 2002. "Sequential Advocacy," Tinbergen Institute Discussion Papers 02-016/1, Tinbergen Institute, revised 10 Jun 2003.
    16. Olszewski, Wojciech, 2004. "Informal communication," Journal of Economic Theory, Elsevier, vol. 117(2), pages 180-200, August.
    17. Jacobsen, Grant D., 2015. "Consumers, experts, and online product evaluations: Evidence from the brewing industry," Journal of Public Economics, Elsevier, vol. 126(C), pages 114-123.
    18. Ellen E. Meade, 2010. "Federal Reserve Transcript Publication And Regional Representation," Contemporary Economic Policy, Western Economic Association International, vol. 28(2), pages 162-170, April.
    19. Chia-Hui Chen & Junichiro Ishida, 2011. "Seeking Harmony Amidst Diversity: Consensus Building with Network Externalities," ISER Discussion Paper 0826, Institute of Social and Economic Research, Osaka University.
    20. Catonini, Emiliano & Kurbatov, Andrey & Stepanov, Sergey, 2024. "Independent versus collective expertise," Games and Economic Behavior, Elsevier, vol. 143(C), pages 340-356.
    21. Meade, Ellen E. & Stasavage, David, 2004. "Publicity of debate and the incentive to dissent: evidence from the US federal reserve," LSE Research Online Documents on Economics 19994, London School of Economics and Political Science, LSE Library.
    22. Roland Bénabou, 2013. "Groupthink: Collective Delusions in Organizations and Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(2), pages 429-462.
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    24. Emeric Henry & Charles Louis-Sidois, 2020. "Voting and Contributing when the Group Is Watching," Post-Print hal-03874216, HAL.
    25. Melissa Newham & Rune Midjord, 2019. "Do Expert Panelists Herd? Evidence from FDA Committees," Discussion Papers of DIW Berlin 1825, DIW Berlin, German Institute for Economic Research.
    26. Dezsö Szalay & Ramon Arean, 2005. "Communicating with a Team of Experts," Cahiers de Recherches Economiques du Département d'économie 05.12, Université de Lausanne, Faculté des HEC, Département d’économie.
    27. Hahn, Volker, 2008. "Committees, sequential voting and transparency," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 366-385, November.
    28. Li, Zhuozheng & Rantakari, Heikki & Yang, Huanxing, 2016. "Competitive cheap talk," Games and Economic Behavior, Elsevier, vol. 96(C), pages 65-89.
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    31. Chia-Hui Chen & Junichiro Ishida, 2014. "Careerist Experts and Political Incorrectness," ISER Discussion Paper 0894, Institute of Social and Economic Research, Osaka University.
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    33. Chini, Emilio Zanetti, 2023. "Can we estimate macroforecasters’ mis-behavior?," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
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    38. Gabriel Desgranges & Celine Rochon, 2008. "Conformism, Public News and Market Efficiency," Economics Series Working Papers 2008fe16, University of Oxford, Department of Economics.
    39. Bénabou, Roland & Ali, S. Nageeb, 2016. "Image Versus Information: Changing Societal Norms and Optimal Privacy," CEPR Discussion Papers 11249, C.E.P.R. Discussion Papers.
    40. Fehrler, Sebastian & Hughes, Niall, 2015. "How Transparency Kills Information Aggregation : Theory and Experiment," The Warwick Economics Research Paper Series (TWERPS) 1088, University of Warwick, Department of Economics.
    41. Paolo Balduzzi, 2005. "Optimal use of scarce information: When partisan voters are socially useful," Working Papers 87, University of Milano-Bicocca, Department of Economics, revised Mar 2005.
    42. Alpern, Steve & Chen, Bo, 2017. "The importance of voting order for jury decisions by sequential majority voting," European Journal of Operational Research, Elsevier, vol. 258(3), pages 1072-1081.
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    44. Martimort, David & Semenov, Aggey, 2008. "The informational effects of competition and collusion in legislative politics," Journal of Public Economics, Elsevier, vol. 92(7), pages 1541-1563, July.
    45. Swank, Otto H., 2010. "Why are junior doctors reluctant to consult attending physicians?," Journal of Health Economics, Elsevier, vol. 29(2), pages 317-324, March.
    46. Arnold Polanski & Mark Quement, 2023. "The battle of opinion: dynamic information revelation by ideological senders," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(2), pages 463-483, June.
    47. Blanes i Vidal, Jordi & Möller, Marc, 2013. "Decision-making and implementation in teams," LSE Research Online Documents on Economics 51544, London School of Economics and Political Science, LSE Library.
    48. Ascensión Andina-Díaz & José A. García-Martínez, 2020. "Interpersonal comparisons and concerns for expertise," Working Papers 2020-07, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    49. David Austen-Smith & Tim Feddersen, 2002. "The Inferiority of Deliberation Under Unanimity," Discussion Papers 1360, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    50. Sushil Bikhchandani & David Hirshleifer & Omer Tamuz & Ivo Welch, 2024. "Information Cascades and Social Learning," Journal of Economic Literature, American Economic Association, vol. 62(3), pages 1040-1093, September.
    51. Hans Gersbach & Volker Hahn, 2012. "Information acquisition and transparency in committees," International Journal of Game Theory, Springer;Game Theory Society, vol. 41(2), pages 427-453, May.
    52. 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.
    53. Nadya Malenko, 2011. "Communication and Decision-Making in Corporate Boards," 2011 Meeting Papers 449, Society for Economic Dynamics.
    54. Bourjade, Sylvain & Jullien, Bruno, 2011. "The roles of reputation and transparency on the behavior of biased experts," MPRA Paper 34813, University Library of Munich, Germany.
    55. Gershoni, Naomi, 2021. "Individual vs. group decision-making: Evidence from a natural experiment in arbitration proceedings," Journal of Public Economics, Elsevier, vol. 201(C).
    56. Jerome Mathis, 2006. "Deliberation with Partially Verifiable Information," THEMA Working Papers 2006-03, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    57. Park, Hyungmin & Squintani, Francesco, 2024. "The Choice of Political Advisors," The Warwick Economics Research Paper Series (TWERPS) 1507, University of Warwick, Department of Economics.
    58. Qiang Fu & Ming Li & Xue Qiao, 2022. "On the paradox of mediocracy," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 31(2), pages 492-521, April.
    59. Andina-Díaz, Ascensión & García-Martínez, José A., 2020. "Reputation and news suppression in the media industry," Games and Economic Behavior, Elsevier, vol. 123(C), pages 240-271.
    60. Mark Thordal-Le Quement, 2016. "The (Human) Sampler's Curses," American Economic Journal: Microeconomics, American Economic Association, vol. 8(4), pages 115-148, November.
    61. Steve Alpern & Bo Chen, 2017. "Who should cast the casting vote? Using sequential voting to amalgamate information," Theory and Decision, Springer, vol. 83(2), pages 259-282, August.
    62. Ricardo Alonso & Wouter Dessein & Niko Matouschek, 2008. "When Does Coordination Require Centralization?," American Economic Review, American Economic Association, vol. 98(1), pages 145-179, March.
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    64. Ottaviani, Marco & Meloso, Debrah & Nunnari, Salvatore, 2018. "Looking into Crystal Balls: A Laboratory Experiment on Reputational Cheap Talk," CEPR Discussion Papers 13231, C.E.P.R. Discussion Papers.
    65. Paul Heidhues & Johan Lagerlöf, 2000. "Hiding Information in Electoral Competition," CIG Working Papers FS IV 00-06, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Feb 2002.
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    67. Petra Gerlach‐Kristen, 2009. "Outsiders at the Bank of England's MPC," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1099-1115, September.
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    105. Maria Flavia Ambrosanio & Paolo Balduzzi & Massimo Bordignon, 2015. "Who should review public spending?," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2015(1), pages 109-127.
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    108. Shunichiro Sasaki, 2005. "Signal Qualities, Order of Decisions, and Informational Cascades: Experimental Evidence," Economics Bulletin, AccessEcon, vol. 3(34), pages 1-11.
    109. Friederike Mengel, 2021. "Gender Bias In Opinion Aggregation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(3), pages 1055-1080, August.
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    111. Jérôme Mathis & Marcello Puca & Simone M. Sepe, 2021. "Deliberative Institutions and Optimality," CSEF Working Papers 614, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 09 Jun 2021.
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    114. Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.
    115. Shuyao Ke & Liangjun Su & Peter C. B. Phillips, 2022. "Unified Factor Model Estimation and Inference under Short and Long Memory," Cowles Foundation Discussion Papers 2351, Cowles Foundation for Research in Economics, Yale University.
    116. Saori CHIBA, 2018. "Hidden Profiles and Persuasion Cascades in Group Decision-Making," Discussion papers e-18-001, Graduate School of Economics , Kyoto University.
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    121. Wohlschlegel, Ansgar, 2014. "The Appeals Process and Incentives to Settle," MPRA Paper 59424, University Library of Munich, Germany.
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  36. Peter Sorensen & Marco Ottaviani, 2000. "Herd Behavior and Investment: Comment," American Economic Review, American Economic Association, vol. 90(3), pages 695-704, June.

    Cited by:

    1. Gabriel Desgranges & Céline Rochon, 2013. "Conformism and public news," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(3), pages 1061-1090, April.
    2. Stephen Hansen & Michael McMahon, 2013. "Estimating Bayesian Decision Problems with Heterogeneous Priors," CEP Discussion Papers dp1211, Centre for Economic Performance, LSE.
    3. Hansen, Stephen & McMahon, Michael, 2011. "How experts decide: identifying preferences versus signals from policy decisions," LSE Research Online Documents on Economics 121717, London School of Economics and Political Science, LSE Library.
    4. Levy, Gilat, 2004. "Anti-herding and strategic consultation," LSE Research Online Documents on Economics 541, London School of Economics and Political Science, LSE Library.
    5. Xeni Dassiou, 1999. "The impact of signal dependence and own ability awareness on herding behaviour: a tale of two managers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(7), pages 379-395.
    6. Stephen Hansen & Michael F. McMahon, 2008. "Delayed Doves: MPC Voting Behaviour of Externals," CEP Discussion Papers dp0862, Centre for Economic Performance, LSE.
    7. Marco Ottaviani & Peter Norman Sorensen, 2001. "The Strategy of Professional Forecasting," Discussion Papers 01-09, University of Copenhagen. Department of Economics.
    8. Gabriel Desgranges & Celine Rochon, 2008. "Conformism, Public News and Market Efficiency," Economics Series Working Papers 2008fe16, University of Oxford, Department of Economics.
    9. McMahon, Michael & Hansen, Stephen, 2013. "First Impressions Matter: Signalling as a Source of Policy Dynamics," CEPR Discussion Papers 9607, C.E.P.R. Discussion Papers.
    10. Di Maggio, Marco, 2009. "Accountability and Cheap Talk," MPRA Paper 18652, University Library of Munich, Germany.
    11. Ottaviani, Marco & Sorensen, Peter Norman, 2006. "Professional advice," Journal of Economic Theory, Elsevier, vol. 126(1), pages 120-142, January.
    12. Harry Pei & Bruno Strulovici, 2020. "Crime Aggregation, Deterrence, and Witness Credibility," Papers 2009.06470, arXiv.org.
    13. Ali-Rind, Asad & Boubaker, Sabri & Jarjir, Souad Lajili, 2023. "Peer effects in financial economics: A literature survey," Research in International Business and Finance, Elsevier, vol. 64(C).
    14. Gilat Levy, 2000. "Strategic Consultation in the Presence of Career Concerns," STICERD - Theoretical Economics Paper Series 404, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    15. Jiang, Xuemei & Zhang, Xinyang & Xia, Yan, 2023. "Peer effect on low-carbon practices of firms along the value chain: Evidence from China," Energy Economics, Elsevier, vol. 127(PA).
    16. Sylvain Marsat, 2006. "Does The Consensus Prevail? Experimental Evidence," Working Papers hal-02156562, HAL.
    17. Jeremy C. Stein & David S. Scharfstein, 2000. "Herd Behavior and Investment: Reply," American Economic Review, American Economic Association, vol. 90(3), pages 705-706, June.
    18. Hirshleifer, David & Teoh, Siew Hong, 2008. "Thought and Behavior Contagion in Capital Markets," MPRA Paper 9142, University Library of Munich, Germany.
    19. Yoon, Young-Ro, 2015. "Strategic behavior in acquiring and revealing costly private information," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 133-148.
    20. Stephan Schulmeister, 2007. "The Interaction Between the Aggregate Behaviour of Technical Trading Systems and Stock Price Dynamics," WIFO Working Papers 290, WIFO.
    21. Marco Ottaviani & Peter Norman Sorensen, 2002. "Professional Advice: The Theory of Reputational Cheap Talk," Discussion Papers 02-05, University of Copenhagen. Department of Economics.
    22. Garicano, Luis & Posner, Richard A., 2005. "Intelligence Failures: An Organizational Economics Perspective," CEPR Discussion Papers 5186, C.E.P.R. Discussion Papers.
    23. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 2005. "Information Cascades and Observational Learning," Working Paper Series 2005-22, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    24. Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September.
    25. David Hirshleifer & Siew Hong Teoh, 2003. "Herd Behaviour and Cascading in Capital Markets: a Review and Synthesis," European Financial Management, European Financial Management Association, vol. 9(1), pages 25-66, March.
    26. Bizer, Kilian & Meub, Lukas & Proeger, Till & Spiwoks, Markus, 2014. "Strategic coordination in forecasting: An experimental study," University of Göttingen Working Papers in Economics 195, University of Goettingen, Department of Economics.
    27. Praveen Kumar & Nisan Langberg, 2014. "Optimal Incentive Contracts and Information Cascades," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 3(1-2), pages 123-161.
    28. Marinovic, Iván & Ottaviani, Marco & Sorensen, Peter, 2013. "Forecasters’ Objectives and Strategies," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 690-720, Elsevier.

  37. Marco Ottaviani & Giuseppe Moscarini & Lones Smith, 1998. "Social learning in a changing world," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 657-665.
    See citations under working paper version above.

Chapters

  1. Marinovic, Iván & Ottaviani, Marco & Sorensen, Peter, 2013. "Forecasters’ Objectives and Strategies," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 690-720, Elsevier.

    Cited by:

    1. David Altig & Jose Maria Barrero & Nicholas Bloom & Steven J. Davis & Brent H. Meyer & Nicholas Parker, 2019. "Surveying Business Uncertainty," NBER Working Papers 25956, National Bureau of Economic Research, Inc.
    2. Carroll, Gabriel, 2019. "Robust incentives for information acquisition," Journal of Economic Theory, Elsevier, vol. 181(C), pages 382-420.
    3. Gaglianone, Wagner Piazza & Giacomini, Raffaella & Issler, João Victor & Skreta, Vasiliki, 2019. "Incentive-driven Inattention," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 811, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    4. Rybacki Jakub, 2020. "Macroeconomic forecasting in Poland: The role of forecasting competitions," Central European Economic Journal, Sciendo, vol. 7(54), pages 1-11, January.
    5. Stephen J. Terry, 2015. "The Macro Impact of Short-Termism," Discussion Papers 15-022, Stanford Institute for Economic Policy Research.
    6. Broer, Tobias & Kohlhas, Alexandre, 2018. "Forecaster (Mis-)Behavior," CEPR Discussion Papers 12898, C.E.P.R. Discussion Papers.
    7. Yoichi Tsuchiya, 2022. "Evaluating plant managers’ production plans over business cycles: asymmetric loss and rationality," SN Business & Economics, Springer, vol. 2(8), pages 1-29, August.

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