Advanced Search
MyIDEAS: Login

Search by committee

Contents:

Author Info

  • Albrecht, James
  • Anderson, Axel
  • Vroman, Susan

Abstract

We consider the problem of sequential search when the decision to stop is made by a committee and show that a unique symmetric stationary equilibrium exists given a log concave distribution of rewards. We compare search by committee to the corresponding single-agent problem and show that committee members are less picky and more conservative than the single agent. We show how (i) increasing committee size holding the plurality fraction constant and (ii) increasing the plurality rule affect the equilibrium acceptance threshold and expected search duration. Finally, we show that unanimity is optimal if committee members are sufficiently patient.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/B6WJ3-4XVRYW0-1/2/a97907074ad15f3960be63ed6e5909b8
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 145 (2010)
Issue (Month): 4 (July)
Pages: 1386-1407

as in new window
Handle: RePEc:eee:jetheo:v:145:y:2010:i:4:p:1386-1407

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622869

Related research

Keywords: Search Voting Committees;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Bagnoli, M. & Bergstrom, T., 1989. "Log-Concave Probability And Its Applications," Papers 89-23, Michigan - Center for Research on Economic & Social Theory.
  2. Tilman Borgers, 2004. "Costly Voting," American Economic Review, American Economic Association, vol. 94(1), pages 57-66, March.
  3. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
  4. McCall, John J, 1970. "Economics of Information and Job Search," The Quarterly Journal of Economics, MIT Press, vol. 84(1), pages 113-26, February.
  5. Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 347-68, September.
  6. Vroman, S B, 1985. "No-Help-Wanted Signs and the Duration of Job Search," Economic Journal, Royal Economic Society, vol. 95(379), pages 767-73, September.
  7. Lippman, Steven A & McCall, John J, 1976. "The Economics of Job Search: A Survey: Part I," Economic Inquiry, Western Economic Association International, vol. 14(2), pages 155-89, June.
  8. Burdett, Kenneth, 1996. "Truncated means and variances," Economics Letters, Elsevier, vol. 52(3), pages 263-267, September.
  9. Timothy Feddersen & Wolfgang Pesendorfer, 1996. "Convicting the Innocent: The Inferiority of Unanimous Jury Verdicts," Discussion Papers 1170, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  10. Alexander Shapiro & Jos Berge, 2002. "Statistical inference of minimum rank factor analysis," Psychometrika, Springer, vol. 67(1), pages 79-94, March.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Luca Flabbi and James Mabli, 2012. "Household Search or Individual Search: Does It Matter? Evidence from Lifetime Inequality Estimates," Working Papers gueconwpa~12-12-03, Georgetown University, Department of Economics.
  2. Bruno Strulovici, 2008. "Learning while voting: determinants of collective experimentation," Economics Papers 2008-W08, Economics Group, Nuffield College, University of Oxford.
  3. Dirk Bergemann & Juuso Valimaki, 2011. "Efficient Search by Committee," Cowles Foundation Discussion Papers 1782, Cowles Foundation for Research in Economics, Yale University.
  4. Hizen, Yoichi & Kawata, Keisuke & Sasaki, Masaru, 2012. "An Experimental Test of a Committee Search Model," IZA Discussion Papers 6861, Institute for the Study of Labor (IZA).
  5. Moscarini, Giuseppe & Wright, Randall, 2010. "Introduction to Search Theory and Applications," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1319-1324, July.
  6. Shi, Xianwen & Moldovanu, Benny, 0. "Specialization and partisanship in committee search," Theoretical Economics, Econometric Society.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:jetheo:v:145:y:2010:i:4:p:1386-1407

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.