{"title":"预测不过是一个统计偏差未知的专家反复说的廉价话","authors":"Irene Valsecchi","doi":"10.1016/j.jebo.2025.106955","DOIUrl":null,"url":null,"abstract":"<div><div>For two periods an expert <span><math><mi>E</mi></math></span> announces his forecast of the state to a decision-maker <span><math><mi>D</mi></math></span>. <span><math><mi>E</mi></math></span> and <span><math><mi>D</mi></math></span> disagree about the precision of the probability assessments that <span><math><mi>E</mi></math></span> makes. At the end of period 1 the state is observed, and <span><math><mi>D</mi></math></span> updates his opinion about <span><math><mi>E</mi></math></span> as a forecaster. In period 2 <span><math><mi>E</mi></math></span> tends to make announcements more extreme than his forecasts. Despite no upper bound to the cardinality of the final equilibrium partition, full revelation is never realized. In period 1 <span><math><mi>E</mi></math></span> takes into account that his report affects his reputation. This consideration can mitigate <span><math><mi>E</mi></math></span>’s incentive to exaggerate. However, full revelation is impossible and the equilibria are partitional.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"233 ","pages":"Article 106955"},"PeriodicalIF":2.3000,"publicationDate":"2025-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Forecasts as repeated cheap talk from an expert of unknown statistical bias\",\"authors\":\"Irene Valsecchi\",\"doi\":\"10.1016/j.jebo.2025.106955\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>For two periods an expert <span><math><mi>E</mi></math></span> announces his forecast of the state to a decision-maker <span><math><mi>D</mi></math></span>. <span><math><mi>E</mi></math></span> and <span><math><mi>D</mi></math></span> disagree about the precision of the probability assessments that <span><math><mi>E</mi></math></span> makes. At the end of period 1 the state is observed, and <span><math><mi>D</mi></math></span> updates his opinion about <span><math><mi>E</mi></math></span> as a forecaster. In period 2 <span><math><mi>E</mi></math></span> tends to make announcements more extreme than his forecasts. Despite no upper bound to the cardinality of the final equilibrium partition, full revelation is never realized. In period 1 <span><math><mi>E</mi></math></span> takes into account that his report affects his reputation. This consideration can mitigate <span><math><mi>E</mi></math></span>’s incentive to exaggerate. However, full revelation is impossible and the equilibria are partitional.</div></div>\",\"PeriodicalId\":48409,\"journal\":{\"name\":\"Journal of Economic Behavior & Organization\",\"volume\":\"233 \",\"pages\":\"Article 106955\"},\"PeriodicalIF\":2.3000,\"publicationDate\":\"2025-03-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Economic Behavior & Organization\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0167268125000757\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Behavior & Organization","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0167268125000757","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
Forecasts as repeated cheap talk from an expert of unknown statistical bias
For two periods an expert announces his forecast of the state to a decision-maker . and disagree about the precision of the probability assessments that makes. At the end of period 1 the state is observed, and updates his opinion about as a forecaster. In period 2 tends to make announcements more extreme than his forecasts. Despite no upper bound to the cardinality of the final equilibrium partition, full revelation is never realized. In period 1 takes into account that his report affects his reputation. This consideration can mitigate ’s incentive to exaggerate. However, full revelation is impossible and the equilibria are partitional.
期刊介绍:
The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution. Research with these purposes that explore the interrelations of economics with other disciplines such as biology, psychology, law, anthropology, sociology and mathematics is particularly welcome.