Waiting for Fake News

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Tác giả: Raphael Boleslavsky

Ngôn ngữ: eng

Ký hiệu phân loại: 001.95 Deceptions and hoaxes

Thông tin xuất bản: 2023

Mô tả vật lý:

Bộ sưu tập: Báo, Tạp chí

ID: 196850

Comment: Typos fixed, references addedThis paper studies a dynamic model of information acquisition, in which information might be secretly manipulated. A principal must choose between a safe action with known payoff and a risky action with uncertain payoff, favoring the safe action under the prior belief. She may delay her decision to acquire additional news that reveals the risky action's payoff, without knowing exactly when such news will arrive. An uninformed agent with a misaligned preference may have the capability to generate a false arrival of news, which is indistinguishable from a real one, distorting the information content of news and the principal's search. The analysis characterizes the positive and normative distortions in the search for news arising from such manipulation, and it considers three remedies that increase the principal's payoff: a commitment to naive search, transfer of authority to the agent, and delegation to an intermediary who is biased in the agent's favor.
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