| 简介： | Learning is crucial to effective organizational decision making, but often it has to be delegated. We examine a dynamic delegation problem where a principal needs to decide on a project with uncertain profitability. A biased agent, who is initially as uninformed as the principal, privately learns about the profitability over time and communicates to the principal. We formulate learning delegation as a dynamic mechanism design problem and characterize the optimal delegation scheme. Our results show that private learning gives rise to the tradeoff between how much information to acquire and how promptly the acquired information is reflected in the decision. We discuss implications on learning delegation for distinct organizations. |