We consider a committee that makes a decision on a project on behalf of 'the public'. Members of the committee agree on the a priori value of the project, and hold additional private information about its consequences. They are experts who care both about the value of the project and about being considered well informed. Before voting on the project,… (More)
======== All rights reserved. No part of this paper may be reproduced in any form without permission of the author. Abstract How m uch does one need to know about the characteristics of heterogeneous agents in order to position them correctly in an organizational structure? This question is addressed in a project selection framework with errorrprone… (More)
Preface It is a pleasure to welcome you to a new year of graduate studies at the Tinbergen Institute (TI), the graduate school and research institute of the economics faculties of the Erasmus University Rotterdam, the University of Amsterdam, and the VU University Amsterdam. The TI MPhil program is a two-year research master in economics, econometrics and… (More)
Decision-makers can learn from their own past experience, and, potentially, from the experience of other decision-makers who face similar problems. When experience is private information, communication is necessary to learn from others. In a two-period model in which decision-makers care about their reputation, we study how the assignment of decision rights… (More)
Organizations di¤er in the degree to which they di¤erentiate employees by ability. We analyse how the e¤ect of di¤erentiation on employee morale may explain this variation. By comparing employees using ordinary talk, a manager boosts the self-image of some, but hurts that of others. Whether the net e¤ect is positive for the organization depends on the… (More)
magazine Macroeconomic equilibrium models without the Walrasian auctioneer How to organise the decision-making process The structure of economic dynamics Fall 2006
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An analysis of the role that casual after-images play in starwalk (marche-en-étoile) tests, shows that these can be turned from unreliable into reliable tests. The vestibular function test described in this article is as follows: (a) the individual walks with open eyes to a point of reference 5 m distant. On arrival, he closes his eyes and walks backward… (More)