In this paper, I analyze an example in which two perfectly informed experts advise a decision maker. Each expert has private information about her own bias. I show that consulting two experts is better than consulting just one. I compare the efficiency of information transmission between simultaneous, sequential, and hierarchical forms of communication. I show that simultaneous communication achieves the highest efficiency, followed by sequential and hierarchical communication. However, hierarchical communication, in which a second expert chooses whether to block the first expert's message, achieves a moderate level of efficiency, even though the decision maker receives only one message. Finally, there are preference settings in which both sequential and hierarchical communication are superior to simultaneous communication.

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Advice from Multiple Experts: A Comparison of Simultaneous, Sequential, and Hierarchical Communication
Ming Li1
1Concordia University and CIREQ, mingli@alcor.concordia.ca
Citation Information: The B.E. Journal of Theoretical Economics. Volume 10, Issue 1, Pages –, ISSN (Online) 1935-1704, DOI: 10.2202/1935-1704.1490, April 2010
Publication History:
- Published Online:
- 2010-04-23
Keywords: expert opinions; strategic information transmission; multiple experts


















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