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Learning aversion and voting rules in collective decision making

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  • Louis, Philippos

Abstract

In collective decisions with uncertainty some voters may oppose the arrival of new information. This note formalizes a justification for supermajority as a voting rule in such environments. This is optimal when arrival of information is responsive to voters’ learning aversion, and conservative minorities have some power to block information.

Suggested Citation

  • Louis, Philippos, 2015. "Learning aversion and voting rules in collective decision making," Economics Letters, Elsevier, vol. 133(C), pages 24-26.
    • Handle: RePEc:eee:ecolet:v:133:y:2015:i:c:p:24-26
    DOI: 10.1016/j.econlet.2015.05.012
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    References listed on IDEAS

    as
    1. Jackson, Matthew O. & Tan, Xu, 2013. "Deliberation, disclosure of information, and voting," Journal of Economic Theory, Elsevier, vol. 148(1), pages 2-30.
    2. Messner, Matthias & Polborn, Mattias K., 2012. "The option to wait in collective decisions and optimal majority rules," Journal of Public Economics, Elsevier, vol. 96(5), pages 524-540.
    3. Bruno Strulovici, 2010. "Learning While Voting: Determinants of Collective Experimentation," Econometrica, Econometric Society, vol. 78(3), pages 933-971, May.
    4. Gersbach, Hans, 1991. "The value of public information in majority decisions," Economics Letters, Elsevier, vol. 35(3), pages 239-242, March.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Nicolás Figueroa & José-Alberto Guerra & Francisco Silva, 2022. "The role of information in collective decisions," Documentos CEDE 20508, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Louis Anthony (Tony) Cox, 2015. "Overcoming Learning Aversion in Evaluating and Managing Uncertain Risks," Risk Analysis, John Wiley & Sons, vol. 35(10), pages 1892-1910, October.
    3. Ginzburg, Boris & Guerra, José-Alberto, 2019. "When collective ignorance is bliss: Theory and experiment on voting for learning," Journal of Public Economics, Elsevier, vol. 169(C), pages 52-64.

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    More about this item

    Keywords

    Collective decisions; Public information; Learning aversion;
    All these keywords.

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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