Decreasing Differences in Expert Advice: Evidence from Chess Players - HAL UNIV-PARIS8 - open access Access content directly
Preprints, Working Papers, ... Year : 2024

Decreasing Differences in Expert Advice: Evidence from Chess Players

Abstract

We study the impact of external advice on the relative performance of chess players. We asked players in chess tournaments to evaluate positions in past games and allowed them to revise their evaluation following advice from a high or a low ability player. While our data confirms the theoretical prediction that high-quality advice has the potential to act as a ``great equalizer,'' reducing the difference between high and low ability players, this is not what happens in practice. This is in part because our subjects ignore too much of the advice they receive, but also because low ability players pay -- either due to overconfidence or intrinsic preference -- a higher premium than high ability ones by following their initial idea instead of high-quality advice.
Fichier principal
Vignette du fichier
2024WP.pdf (1.36 Mo) Télécharger le fichier
Origin : Files produced by the author(s)
licence : CC BY SA - Attribution - ShareAlike

Dates and versions

halshs-04453028 , version 1 (12-02-2024)

Licence

Attribution - ShareAlike

Identifiers

  • HAL Id : halshs-04453028 , version 1

Cite

Elias Bouacida, Renaud Foucart, Maya Jalloul. Decreasing Differences in Expert Advice: Evidence from Chess Players. 2024. ⟨halshs-04453028⟩
39 View
38 Download

Share

Gmail Facebook X LinkedIn More