Sequential decisions with tests
We consider a principal-agent problem where the principal wishes to be endorsed by a sequence of agents, but cannot truthfully reveal type. In the standard herding model, the agents learn from each other's decisions, which can lead to cascades on a given decision when later agents' private...
| Autors principals: | , |
|---|---|
| Format: | Working paper |
| Publicat: |
University of Oxford
2005
|