3 papers
econ.TH2025
Reputational Conservatism in Expert Advice
Georgy Lukyanov, Anna Vlasova
We study expert advice with career concerns and continuous private signals. The principal always implements the safe option, and implements the risky option with a probability incr…
econ.TH2025
Paying for Failure in Expert Advice
Georgy Lukyanov, Anna Vlasova, Maria Ziskelevich
A failed recommendation is visible; an unproposed project is not. How should an organization pay an adviser whose private confidence determines which projects reach the margin? We…
econ.TH2025
Endogenous Vindication: Reputation and Effort in Expert Advice
Georgy Lukyanov, Anna Vlasova
An expert's advice is often evaluated only when a client acts, and the quality of that evaluation depends on implementation effort. We study repeated advice by an expert whose fixe…