How to consult an expert? Opinion versus evidence |
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Authors: | Thomas Lanzi Jerome Mathis |
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Institution: | 1.Université Lille Nord de France,Lille,France;2.LSMRC,Lille,France;3.Toulouse School of Economics (GREMAQ)—Toulouse University,Toulouse,France |
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Abstract: | In this article, two modes of non-binding communication between an expert and a decision-maker are compared. They are distinguished
mainly by the nature of the information transmitted by the expert. In the first one, the expert reports only his opinion (soft
information) concerning the desirability of a certain action, whereas in the second one, he is consulted to provide evidence
(hard information) to convince the decision-maker. The expert’s ability to provide evidence increases with the precision of
his information. The article shows that requiring evidence is always beneficial to the decision-maker whereas it is beneficial
to the expert, if and only if the preferences of both agents are different enough. |
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