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...
| Main Authors: | , |
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| Formato: | Working paper |
| Publicado em: |
University of Oxford
2005
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