Delegation to a Group
研究了委托人是否应将决策权授权给一群职业专家，还是单独咨询他们并保留决策权；模型揭示了信息获取与信息聚合之间的权衡，并通过实验验证了关键预测。
We study the choice of a principal to either delegate a decision to a group of careerist experts or to consult them individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually. Hence, the experts either acquire the same or a larger amount of information, depending on the cost of information, than in case of delegation. On the other hand, any acquired information is better aggregated in the case of delegation, in which experts can deliberate secretly. To test the model’s key predictions, we run an experiment. The results from the laboratory confirm the predicted trade-off despite some deviations from theory on the individual level. This paper was accepted by Yan Chen, decision analysis.