Implementing the “Wisdom of the Crowd”
研究了一个新型机制设计模型，其中代理人依次到达并从一组未知奖励的行动中选择，规划者通过最优信息披露政策最大化社会福利，实现了所谓的“群体智慧”。
We study a novel mechanism design model in which agents each arrive sequentially and choose one action from a set of actions with unknown rewards. The information revealed by the principal affects the incentives of the agents to explore and generate new information. We characterize the optimal disclosure policy of a planner whose goal is to maximize social welfare. One interpretation of our result is the implementation of what is known as the “wisdom of the crowd.” This topic has become increasingly relevant with the rapid spread of the Internet over the past decade. \n \n