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X-WR-CALDESC:Events for CREST
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DTSTART:20190331T010000
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DTSTART:20191027T010000
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DTSTART;TZID=Europe/Paris:20190416T121500
DTEND;TZID=Europe/Paris:20190416T131500
DTSTAMP:20260713T092621
CREATED:20190405T161202Z
LAST-MODIFIED:20241104T133424Z
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SUMMARY:Robert J. GARY-BOBO (CREST) - “Bargaining over Treatment Choice under Disagreement"
DESCRIPTION:\nThe Microeconometrics Seminar: Every Tuesday at 12:15 pm.\nTime: 12:15 pm – 1:15 pm\nDate: 16th of April 2019\nPlace: Room 3001.\nRobert J. GARY-BOBO (CREST) – “Bargaining over Treatment Choice under Disagreement”\, joint work with Nabil I. Al-Najjar (Northwestern University). \nAbstract: A group of experts with different prior beliefs must make a collective decision over the choice of a treatment or policy. We propose a model where such disagreements are resolved through bargaining. We show that\, when the outcome is determined according to the Nash bargaining solution\, the collective decision is made as if a planner maximized expected utility with respect to a “compromise belief” that places greater weight on the more pessimistic experts. In interesting classes of environments\, bargaining leads to an inefficient use of information in a strong sense: experts receive a lower payoff in every state\, and thus for any prior belief. This inefficiency takes the form of under-reaction to information. We connect these findings to speculative betting and to the admissibility of statistical decision procedures. \n\n\nOrganizers:\nLaurent Davezies (CREST)\, Benoit Schmutz (CREST)\, Arne Uhlendorff (CREST) & Lucas Girard (CREST)\nSponsors:\nCREST\nLunch registration:\nfood provided\, no registration\n\n
URL:https://crest.science/event/robert-gary-bobo-crest-bargaining-over-treatment-choice-under-disagreement/
CATEGORIES:Applied Seminar,Economics,Microeconometrics,Seminars
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