A Mathematical Model of Communication with Reputational Concerns
We investigate a mathematical model where an expert advises a decision maker for two periods. The decision maker is initially unsure about whether the expert is biased or not. After consulting the expert on the decision problem of period one, the decision maker updates belief about the expert’s bias...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2016-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2016/6507104 |
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| _version_ | 1832567267772071936 |
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| author | Ce Huang Yuanyuan Zhang Chong Lai |
| author_facet | Ce Huang Yuanyuan Zhang Chong Lai |
| author_sort | Ce Huang |
| collection | DOAJ |
| description | We investigate a mathematical model where an expert advises a decision maker for two periods. The decision maker is initially unsure about whether the expert is biased or not. After consulting the expert on the decision problem of period one, the decision maker updates belief about the expert’s bias and consults the expert on the problem of period two. We find that more information is delivered in the model’s first period than in the one-period situation of communication. |
| format | Article |
| id | doaj-art-d3fc0620f7fa49ddbf279f9b27e88aa5 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2016-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-d3fc0620f7fa49ddbf279f9b27e88aa52025-02-03T01:02:00ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2016-01-01201610.1155/2016/65071046507104A Mathematical Model of Communication with Reputational ConcernsCe Huang0Yuanyuan Zhang1Chong Lai2School of Public Finance and Taxation, Southwestern University of Finance and Economics, 555 Liutai Avenue, Wenjiang, Chengdu, Sichuan 611130, ChinaSchool of Securities and Futures, Southwestern University of Finance and Economics, 555 Liutai Avenue, Wenjiang, Chengdu, Sichuan 611130, ChinaSchool of Finance, Southwestern University of Finance and Economics, 555 Liutai Avenue, Wenjiang, Chengdu, Sichuan 611130, ChinaWe investigate a mathematical model where an expert advises a decision maker for two periods. The decision maker is initially unsure about whether the expert is biased or not. After consulting the expert on the decision problem of period one, the decision maker updates belief about the expert’s bias and consults the expert on the problem of period two. We find that more information is delivered in the model’s first period than in the one-period situation of communication.http://dx.doi.org/10.1155/2016/6507104 |
| spellingShingle | Ce Huang Yuanyuan Zhang Chong Lai A Mathematical Model of Communication with Reputational Concerns Discrete Dynamics in Nature and Society |
| title | A Mathematical Model of Communication with Reputational Concerns |
| title_full | A Mathematical Model of Communication with Reputational Concerns |
| title_fullStr | A Mathematical Model of Communication with Reputational Concerns |
| title_full_unstemmed | A Mathematical Model of Communication with Reputational Concerns |
| title_short | A Mathematical Model of Communication with Reputational Concerns |
| title_sort | mathematical model of communication with reputational concerns |
| url | http://dx.doi.org/10.1155/2016/6507104 |
| work_keys_str_mv | AT cehuang amathematicalmodelofcommunicationwithreputationalconcerns AT yuanyuanzhang amathematicalmodelofcommunicationwithreputationalconcerns AT chonglai amathematicalmodelofcommunicationwithreputationalconcerns AT cehuang mathematicalmodelofcommunicationwithreputationalconcerns AT yuanyuanzhang mathematicalmodelofcommunicationwithreputationalconcerns AT chonglai mathematicalmodelofcommunicationwithreputationalconcerns |