Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40660
Authors: 
Valsecchi, Irene
Year of Publication: 
2008
Series/Report no.: 
Nota di lavoro // Fondazione Eni Enrico Mattei: IEM, International energy markets 2008,35
Abstract: 
The survey is concerned with the issue of information transmission from experts to non-experts. Two main approaches to the use of experts can be traced. According to the game-theoretic approach expertise is a case of asymmetric information between the expert, who is the better informed agent, and the non-expert, who is either a decision-maker or an evaluator of the expert's performance. According to the Bayesian decision-theoretic approach the expert is the agent who announces his probabilistic opinion, and the non-expert has to incorporate that opinion into his beliefs in a consistent way, despite his poor understanding of the expert's substantive knowledge. The two approaches ground the relationships between experts and non-experts on such different premises that their results are very poorly connected.
Subjects: 
Expert
Information Transmission
Learning
JEL: 
D81
L21
Document Type: 
Working Paper

Files in This Item:
File
Size
310.02 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.