Public information and social choice
AbstractWe examine the value of public information when a society uses a social choice rule to decide among a set of outcomes. We require that a social choice function satisfies unrestricted domain, non-decisiveness and the Pareto principle. We show that there exist payoff structures for every social choice function, such that an arbitrary subset of voters is worse off by public information. We apply the proposition to collective information acquisition and to irreversible investments.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 17 (2000)
Issue (Month): 1 ()
Note: Received: 2 June 1997/Accepted: 30 September 1998
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
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