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