Decision Making and Learning in a Globalizing World

Otto Swank () and Bauke Visser ()

No ECO2009/20, Economics Working Papers from European University Institute

Abstract: Decision-makers can benefit from the experience of others with solutions to common problems. If a best practice exists, the challenge is to recognize it and to ensure its diffusion. Information about different solutions is often dispersed, and decision-makers may be reluctant to switch for reputational reasons. We study how (i) the assignment of decision rights (who decides on the solutions.implementation?) and (ii) globalization (who knows what about solutions adopted in other places?) in.uence both the quality of the information on locally adopted solutions that decision-makers exchange and the quality of the solutions that are actually being used next.

Keywords: centralization; decentralization; learning; cheap talk; reputational concerns; globalization; health care consensus panels; EU Open Method of Coordination (search for similar items in EconPapers)
JEL-codes: D02 D70 D83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cta
Date: 2009
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Persistent link: http://EconPapers.repec.org/RePEc:eui:euiwps:eco2009/20

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