Strategic Expert Committees and the Markets That Assess Them: A Laboratory Experiment

The authors thank two anonymous referees and an associate editor for their detailed comments and their patience over the Covid period and Sebastian Fehrler, Chaim Fershtman, Sacha Kapoor, Debrah Meloso, Lúis Santos-Pinto, Karl Schlag, and Otto Swank as well as seminar audiences at Erasmus University Rotterdam and Middlesex University as well as at the universities of Mannheim, Konstanz, Lausanne, Milan, Vienna, and Delft for comments and discussions. Annikka Lemmens, Erik van Goudoever, Xiaomeng Chen, and Mohamed Orban provided diligent research assistance. A previous version of this paper was called “Committees of Experts in the Laboratory.”