On the informational efficiency of simple scoring rules
AbstractWe study information aggregation in large elections. With two candidates, efficient information aggregation is possible (e.g., Feddersen and Pesendorfer ,  and ). We show that this result does not extend to elections with more than two candidates. We study a class of simple scoring rules in voting games with Poisson population uncertainty and three candidates. No simple scoring rule aggregates information efficiently, even if preferences are dichotomous and a Condorcet winner always exists. We introduce a weaker criterion of informational efficiency that requires a voting rule to have at least one efficient equilibrium. Only approval voting satisfies this criterion.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2009026.
Date of creation: 01 Apr 2009
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efficient information aggregation; scoring rules; Poisson games; approval voting;
Other versions of this item:
- Goertz, Johanna M.M. & Maniquet, François, 2011. "On the informational efficiency of simple scoring rules," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1464-1480, July.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-28 (All new papers)
- NEP-CDM-2010-03-28 (Collective Decision-Making)
- NEP-GTH-2010-03-28 (Game Theory)
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- Laurent Bouton & Micael Castanheira De Moura & A. Llorente-Saguer, 2012.
"Divided Majority and Information Aggregation: Theory and Experiment,"
ULB Institutional Repository
2013/136800, ULB -- Universite Libre de Bruxelles.
- Laurent Bouton & Micael Castanheira & Aniol Llorente-Saguer, 2012. "Divided Majority and Information Aggregation: Theory and Experiment," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2012_20, Max Planck Institute for Research on Collective Goods.
- Bouton, Laurent & Castanheira, Micael & Llorente-Saguer, Aniol, 2012. "Divided Majority and Information Aggregation: Theory and Experiment," CEPR Discussion Papers 9234, C.E.P.R. Discussion Papers.
- Laurent Bouton & Micael Castanheira, 2012.
"One Person, Many Votes: Divided Majority and Information Aggregation,"
Econometric Society, vol. 80(1), pages 43-87, 01.
- Micael Castanheira De Moura & Laurent Bouton, 2012. "One Person, Many Votes: Divided Majority and Information Aggregation," ULB Institutional Repository 2013/108675, ULB -- Universite Libre de Bruxelles.
- Bouton, Laurent & Castanheira, Micael, 2008. "One Person, Many Votes: Divided Majority and Information Aggregation," CEPR Discussion Papers 6695, C.E.P.R. Discussion Papers.
- Johanna Goertz & Francois Maniquet, 2011. "On a Three-Alternative Condorcet Jury Theorem," CESifo Working Paper Series 3457, CESifo Group Munich.
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