{"id":"https://openalex.org/W61765971","doi":null,"title":"The Economics of Advice","display_name":"The Economics of Advice","publication_year":2000,"publication_date":"2000-01-01","ids":{"openalex":"https://openalex.org/W61765971","mag":"61765971"},"language":"en","primary_location":{"id":"pmh:oai:iris.unibocconi.it:11565/3735085","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/11565/3735085","pdf_url":"http://didattica.unibocconi.it/mypage/upload/48832_20111118_025727_THEECONOMICSOFADVICE.PDF","source":{"id":"https://openalex.org/S7407055170","display_name":"Archivio istituzionale della Ricerca - Bocconi","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},"volume":null,"type":"other","is_traditional":false,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://didattica.unibocconi.it/mypage/upload/48832_20111118_025727_THEECONOMICSOFADVICE.PDF","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5006386521","display_name":"Marco Ottaviani","orcid":"https://orcid.org/0000-0002-0943-162X","observed_orcids":["https://orcid.org/0000-0002-0943-162X"]},"institutions":[{"id":"https://openalex.org/I45129253","display_name":"University College London","ror":"https://ror.org/02jx3x895","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I45129253"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Marco Ottaviani","raw_affiliation_strings":["University College London\u2020"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University College London\u2020","institution_ids":["https://openalex.org/I45129253"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5006386521"],"corresponding_institution_ids":["https://openalex.org/I45129253"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":24,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.39989998936653137,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.39989998936653137,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.15039999783039093,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.09780000150203705,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-advice","display_name":"financial advice","score":0.7850000262260437},{"id":"https://openalex.org/keywords/financial-advisors","display_name":"financial advisors","score":0.6850000023841858},{"id":"https://openalex.org/keywords/information-disclosure","display_name":"information disclosure","score":0.7229999899864197},{"id":"https://openalex.org/keywords/information-acquisition","display_name":"information acquisition","score":0.9160000085830688},{"id":"https://openalex.org/keywords/strategic-sophistication","display_name":"strategic sophistication","score":0.7300000190734863},{"id":"https://openalex.org/keywords/monetary-transfers","display_name":"monetary transfers","score":0.7179999947547913},{"id":"https://openalex.org/keywords/financial-regulation","display_name":"financial regulation","score":0.550000011920929},{"id":"https://openalex.org/keywords/retail-finance","display_name":"retail financial services","score":0.5590000152587891},{"id":"https://openalex.org/keywords/principal-agent-model","display_name":"principal-agent model","score":0.6370000243186951}],"concepts":[{"id":"https://openalex.org/C168725872","wikidata":"https://www.wikidata.org/wiki/Q991663","display_name":"Sophistication","level":2,"score":0.8581264615058899},{"id":"https://openalex.org/C2779955035","wikidata":"https://www.wikidata.org/wiki/Q4686785","display_name":"Advice (programming)","level":2,"score":0.8335304856300354},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.6763606667518616},{"id":"https://openalex.org/C144559511","wikidata":"https://www.wikidata.org/wiki/Q2986279","display_name":"Principal (computer security)","level":2,"score":0.5454698801040649},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5071589946746826},{"id":"https://openalex.org/C106485872","wikidata":"https://www.wikidata.org/wiki/Q5088884","display_name":"Cheap talk","level":2,"score":0.4993607997894287},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.4567493200302124},{"id":"https://openalex.org/C119982944","wikidata":"https://www.wikidata.org/wiki/Q1394203","display_name":"Information economics","level":2,"score":0.44995832443237305},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4353334307670593},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.43418294191360474},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.38827162981033325},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3737840950489044},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.32440680265426636},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.3205599784851074},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.16004678606987},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.1355571448802948},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:iris.unibocconi.it:11565/3735085","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/11565/3735085","pdf_url":"http://didattica.unibocconi.it/mypage/upload/48832_20111118_025727_THEECONOMICSOFADVICE.PDF","source":{"id":"https://openalex.org/S7407055170","display_name":"Archivio istituzionale della Ricerca - Bocconi","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.164.5091","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.164.5091","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.kellogg.northwestern.edu/Faculty/ottaviani/homepage/Papers/The%20Economics%20of%20Advice.pdf","raw_type":"text"}],"best_oa_location":{"id":"pmh:oai:iris.unibocconi.it:11565/3735085","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/11565/3735085","pdf_url":"http://didattica.unibocconi.it/mypage/upload/48832_20111118_025727_THEECONOMICSOFADVICE.PDF","source":{"id":"https://openalex.org/S7407055170","display_name":"Archivio istituzionale della Ricerca - Bocconi","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W61765971.pdf","grobid_xml":"https://content.openalex.org/works/W61765971.grobid-xml"},"referenced_works_count":34,"referenced_works":["https://openalex.org/W1480824948","https://openalex.org/W1499293517","https://openalex.org/W1501801080","https://openalex.org/W1506423135","https://openalex.org/W1513410256","https://openalex.org/W1573257242","https://openalex.org/W1878988016","https://openalex.org/W1971587214","https://openalex.org/W1990277457","https://openalex.org/W2004627336","https://openalex.org/W2005194216","https://openalex.org/W2008396015","https://openalex.org/W2014602527","https://openalex.org/W2014794908","https://openalex.org/W2030197407","https://openalex.org/W2046567186","https://openalex.org/W2056181035","https://openalex.org/W2059191774","https://openalex.org/W2073604146","https://openalex.org/W2081523315","https://openalex.org/W2095996041","https://openalex.org/W2102918423","https://openalex.org/W2108548811","https://openalex.org/W2118929276","https://openalex.org/W2144725035","https://openalex.org/W2155092054","https://openalex.org/W2160003140","https://openalex.org/W2160912374","https://openalex.org/W2169727571","https://openalex.org/W2260634793","https://openalex.org/W2569453279","https://openalex.org/W3023287100","https://openalex.org/W3121519289","https://openalex.org/W3125348180"],"related_works":["https://openalex.org/W2497404430","https://openalex.org/W2154304865","https://openalex.org/W4287271113","https://openalex.org/W2592713008","https://openalex.org/W606644148","https://openalex.org/W4251609834","https://openalex.org/W3033964527","https://openalex.org/W2558547991","https://openalex.org/W3122234837","https://openalex.org/W7037191174"],"abstract_inverted_index":{"We":[0],"formulate":[1],"a":[2],"simple":[3],"model":[4],"of":[5,15,36,51],"advice":[6],"which":[7],"can":[8],"be":[9],"useful":[10],"to":[11,27],"guide":[12],"the":[13,16],"regulation":[14],"financial":[17],"retail":[18],"industry.":[19],"An":[20],"informed":[21],"agent":[22],"(financial":[23],"adviser)":[24],"transmits":[25],"information":[26,42,45],"an":[28],"otherwise":[29],"uninformed":[30],"principal":[31],"(investor)":[32],"with":[33],"uncertain":[34],"degree":[35],"strategic":[37],"sophistication.":[38],"Incentives":[39],"for":[40],"truthful":[41],"disclosure":[43],"and":[44],"acquisition":[46],"are":[47],"studied.":[48],"The":[49],"role":[50],"explicit":[52],"monetary":[53],"transfers":[54],"is":[55],"analyzed.":[56]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2025-10-27T00:00:00"}
