On the Composition of Committees
AbstractThis article is concerned with the role of committees in collective decision making processes in a world where agents must be motivated to collect information. Committees improve the quality of decision making by providing information and by coordinating the collection of information. We address two types of questions. First, how does the composition of a committee affect final decisions? Second, what is the optimal composition of a committee from the decision maker's point of view? As to the latter question, we show that the cost of information collection plays an important role. If this cost is low, then the preferences of the committee members should be aligned to those of the decision maker. Members with similar preferences as the decision maker collect the proper pieces of information. Moreover, manipulation of information does not occur if the preferences of the decision maker and the members are consonant. If the cost of searching is high, then the committee should be composed of members with polarized preferences. Outliers have a strong incentive to search for information. Copyright 2004, Oxford University Press.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal The Journal of Law, Economics, and Organization.
Volume (Year): 20 (2004)
Issue (Month): 2 (October)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://jleo.oupjournals.org/
Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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.:
- Potters, Jan & van Winden, Frans, 1992.
" Lobbying and Asymmetric Information,"
Springer, vol. 74(3), pages 269-92, October.
- Piketty, Thomas, 1999. "The information-aggregation approach to political institutions," European Economic Review, Elsevier, vol. 43(4-6), pages 791-800, April.
- Crawford, Vincent P & Sobel, Joel, 1982.
"Strategic Information Transmission,"
Econometric Society, vol. 50(6), pages 1431-51, November.
- Gilligan, Thomas W & Krehbiel, Keith, 1997. "Specialization Decisions within Committee," Journal of Law, Economics and Organization, Oxford University Press, vol. 13(2), pages 366-86, October.
- Vijay Krishna & John Morgan, 2001.
"A Model Of Expertise,"
The Quarterly Journal of Economics,
MIT Press, vol. 116(2), pages 747-775, May.
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Working Papers 154, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics..
- Vijay Krishna & John Morgan, 1999. "A Model of Expertise," Game Theory and Information 9902003, EconWPA.
- Krishna, V. & Morgan, J., 1999. "A Model of Expertise," Papers 206, Princeton, Woodrow Wilson School - Public and International Affairs.
- Gilligan, Thomas W & Krehbiel, Keith, 1987. "Collective Decisionmaking and Standing Committees: An Informational Rationale for Restrictive Amendment Procedures," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 287-335, Fall.
- Bulkley, G. & Myles, G.D. & Pearson, B.R., 2000.
"On the Membership of Decision-Making Committees,"
0009, Exeter University, Department of Economics.
- Hao Li & Sherwin Rosen & Wing Suen, 2000.
"Conflicts and Common Interests in Committees,"
Econometric Society World Congress 2000 Contributed Papers
0341, Econometric Society.
- Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September.
- Robert Dur & Otto H. Swank, 2003.
"Producing and Manipulating Information,"
CESifo Working Paper Series
908, CESifo Group Munich.
- Silvia Dominguez Martinez & Otto H. Swank, 2004.
"Polarization, Information Collection and Electoral Control,"
Tinbergen Institute Discussion Papers
04-035/1, Tinbergen Institute.
- Silvia Dominguez-Martinez & Otto Swank, 2006. "Polarization, Information Collection and Electoral Control," Social Choice and Welfare, Springer, vol. 26(3), pages 527-545, June.
- Bernard Caillaud & Jean Tirole, 2007.
"Consensus Building: How to Persuade a Group,"
American Economic Review,
American Economic Association, vol. 97(5), pages 1877-1900, December.
- Bauke Visser & Otto H Swank, 2007.
"On Committees of Experts,"
The Quarterly Journal of Economics,
MIT Press, vol. 122(1), pages 337-372, 02.
- Bourjade, Sylvain & Jullien, Bruno, 2004. "Expertise and Bias in Decision Making," MPRA Paper 7251, University Library of Munich, Germany, revised Jan 2007.
- Irene Valsecchi, 2013. "The expert problem: a survey," Economics of Governance, Springer, vol. 14(4), pages 303-331, November.
- repec:dgr:uvatin:2004035 is not listed on IDEAS
- Bourjade, Sylvain & Jullien, Bruno, 2011.
"The roles of reputation and transparency on the behavior of biased experts,"
34813, University Library of Munich, Germany.
- Sylvain Bourjade & Bruno Jullien, 2011. "The roles of reputation and transparency on the behavior of biased experts," RAND Journal of Economics, RAND Corporation, vol. 42(3), pages 575-594, 09.
- Kiel, Alexandra & Gerling, Kerstin & Schulte, Elisabeth & Grüner, Hans Peter, 2003.
"Information acquisition and decision making in committees: a survey,"
Working Paper Series
0256, European Central Bank.
- Gerling, Kerstin & Gruner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth, 2005. "Information acquisition and decision making in committees: A survey," European Journal of Political Economy, Elsevier, vol. 21(3), pages 563-597, September.
- repec:dgr:uvatin:2005028 is not listed on IDEAS
- repec:hal:wpaper:halshs-00590459 is not listed on IDEAS
- Sourav Bhattacharya & Maria Goltsman & Arijit Mukherjee, 2013. "On the Optimality of Diverse Expert Panels in Persuasion Games," Working Papers 516, University of Pittsburgh, Department of Economics, revised Dec 2013.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.