Assessing the Impact of Informedness on a Consultant's Profit

Details Assessing the Impact of Informedness on a Consultant's Profit Assessing the Impact of Informedness on a Consultant's Profit

2009-09-04

arxiv.org/abs/0909.0901v1

Computer Science

Artificial Intelligence

20 pages, 42 figures, Technical Report, University of Luxembourg

Scientific paper

We study the notion of informedness in a client-consultant setting. Using a software simulator, we examine the extent to which it pays off for consultants to provide their clients with advice that is well-informed, or with advice that is merely meant to appear to be well-informed. The latter strategy is beneficial in that it costs less resources to keep up-to-date, but carries the risk of a decreased reputation if the clients discover the low level of informedness of the consultant. Our experimental results indicate that under different circumstances, different strategies yield the optimal results (net profit) for the consultants.

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