Sequential decisions with several agents

B. Bassan, M. SCARSINI

Economic Theory

1998, vol. 12, n°2, pp.371-391

Départements : Economie et Sciences de la décision

We consider k agents who have different subjective probabilities and are utility maximizers. A planner, who knows the beliefs of the agents, maximizes the social expected utility, which is increasing and symmetric in the utilities of the agents. She does that by optimally stopping the flow of information released to the agents. The explicit form of the optimal stopping time is given