The role of regional information in the optimal composition of a committee
AbstractWe analyse the optimal composition of a committee comprising members that have private information and represent constituencies of different economic sizes. ‘Proportional representation' - i.e. each constituency represented proportionally to its economic weight - seems intuitively appealing, but as we demonstrate, the optimal committee composition is more complex. We show that representation in a committee depends also on (i) the ‘intrinsic' uncertainty of the available data, (ii) constituency's degree of sectoral specialization, and (iii) the extent to which economic developments are correlated between constituencies.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 1 ()
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optimal composition of a committee; information uncertainty; regional representation; EMU enlargement; monetary institutions;
Find related papers by JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
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