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The invalidity of the Condorcet Jury Theorem under endogenous decisional skills

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Author Info

  • Ruth Ben-Yashar
  • Shmuel Nitzan

Abstract

The current note clarifies that Condorcet Jury Theorem cannot be generalized to the extended setting where individual decisional skills are not assumed to be exogenous parameters even when these skills are homogeneous. This is true when skills are determined endogenously either by a central planner or, in a decentralized strategic setting, by the decision makers themselves. Copyright Springer-Verlag Berlin Heidelberg 2001

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Bibliographic Info

Article provided by Springer in its journal Economics of Governance.

Volume (Year): 2 (2001)
Issue (Month): 3 (November)
Pages: 243-249

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Handle: RePEc:spr:ecogov:v:2:y:2001:i:3:p:243-249

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Related research

Keywords: Key words: Condorcet Jury Theorem; Investment in human capital; Endogenous skills; JEL classification: D71;

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Cited by:
  1. Hahn, Volker, 2012. "On the Optimal Size of Committees of Experts," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62041, Verein für Socialpolitik / German Economic Association.
  2. 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.

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