The behaviour of biased and unbiased advisers in a repeated cheap talk model with multiple advisers

A problem with consulting an adviser is that the decision maker lacks information about the preference of the adviser. Advisers can be either good or bad, where the preferences of good advisers correspond to the preferences of the decision maker. Several studies found that good (bad) advisers act less (more) in line with the interests of the decision maker when they face reputational concerns. I show that these results still hold when a decision maker consults multiple advisers instead of one adviser. However, both advisers (good and bad) are inclined to act more in line with the interests of the decision maker in a setting with multiple advisers than in a setting with one adviser.