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’ priva...
| Egile Nagusiak: | , |
|---|---|
| Formatua: | Working paper |
| Hizkuntza: | English |
| Argitaratua: |
Department of Economics (University of Oxford)
2005
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