000			01182nam a22001457a 4500
999			_c516510 _d516510
008			210226b ||||| |||| 00| 0 eng d
100			_aCooper, David J. et al _925703
245			_aFool me once: An experiment on credibility and leadership
260			_aThe Economic Journal
300			_a130(631), Oct, 2020: p.2105-2133
520			_aWe investigate ‘social credibility’, a leader’s ability to convince followers that conditions are favourable and that others will follow the leader's advice. To do so, we study an experimental joint venture with three key properties: returns are uncertain, investments are complements, and investment is often more beneficial for the leader than the followers. The leader has private information about investment returns and can facilitate coordination through cheap-talk recommendations. We find that leaders manage social credibility by forgoing potentially profitable advice to invest, increasing the likelihood that subsequent recommendations are followed. We identify factors that affect the persistence of social credibility. – Reproduced
773			_aThe Economic Journal
906			_aSOCIAL CREDIBILITY
942			_cAR