Size and distributional uncertainty, public information and the information paradox
AbstractIn this paper we examine the strategic implications of collective acquisition of information in a committee or in a legislature. We show that the prospect of acquiring information can harm a majority even if information is only available by the support of a majority. Moreover, the model provides two results about incentives to acquire information. First, for policies with high distributional uncertainties, we expect that less information is acquired collectively by a committee than for other policies. Second, for policies that show only size uncertainty, our model predicts intense efforts to acquire information collectively.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 17 (2000)
Issue (Month): 2 ()
Note: Received: 20 January 1997/Accepted: 15 February 1999
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
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- Huber, Jurgen, 2007. "`J'-shaped returns to timing advantage in access to information - Experimental evidence and a tentative explanation," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 31(8), pages 2536-2572, August.
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