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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. 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.
  2. Volker Hahn, 2012. "On the Optimal Size of Committees of Experts," Working Paper Series of the Department of Economics, University of Konstanz 2012-24, Department of Economics, University of Konstanz.

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