Delegated expertise: Implementability with peer-monitoring

B-Tier
Journal: Games and Economic Behavior
Year: 2022
Volume: 132
Issue: C
Pages: 240-254

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

A decision maker would like to delegate the acquisition of information to an expert, but is unable to observe the expert's actions, nor is she able to postpone the payment to the expert until the truth is revealed. If the expert can manipulate their report of the realized signal then incentivizing information acquisition is typically impossible. However, by hiring multiple experts and making the payments contingent on the entire vector of signals the decision maker can obtain useful information. We characterize the implementable vectors of information structures. In particular, we show that if one vector of structures is implementable then any vector of more informative structures is implementable as well.

Technical Details

RePEc Handle
repec:eee:gamebe:v:132:y:2022:i:c:p:240-254
Journal Field
Theory
Author Count
1
Added to Database
2026-01-24