Conflicting evidence and decisions by agency professionals: An experimental test in the context of merger regulation

Lyons, Bruce, Menzies, Gordon Douglas and Zizzo, Daniel John (2012) Conflicting evidence and decisions by agency professionals: An experimental test in the context of merger regulation. Theory and Decision, 73 (3). pp. 465-499. ISSN 0040-5833

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Abstract

Many important regulatory decisions are taken by professionals employing limited and conflicting evidence.We conduct an experiment in amerger regulation setting, identifying the role of different standards of proof, volumes of evidence, cost of error and professional or lay decision making. The experiment was conducted on current practitioners from 11 different jurisdictions, in addition to student subjects. Legal standards of proof significantly affect decisions. There are specific differences because of professional judgment, including in how error costs and volume of evidence are taken into account.We narrowthe range of explanations forwhy professional decision making matters.

Item Type:	Article
Uncontrolled Keywords:	belief conservation,experiment,merger control,professionalism,standard of proof,l33,l40,l50,c91
Faculty \ School:	Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Industrial Economics
Related URLs:	http://www.scopus.com/inward/record.url?...
Depositing User:	Pure Connector
Date Deposited:	22 Nov 2013 13:56
Last Modified:	16 May 2023 17:31
URI:	https://ueaeprints.uea.ac.uk/id/eprint/44338
DOI:	10.1007/s11238-011-9258-3

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