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Condorcet jury theorem: an example in which informative voting is rational but leads to inefficient information aggregation

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  • GOERTZ, Johanna M.M
  • MANIQUET, François

Abstract

Recent research on the Condorcet Jury Theorem has proven that informative voting (that is, voting according to one’s signal) is not necessarily rational. With two alternatives, rational voting typically leads to the election of the correct alternative, in spite of the fact that not all voters vote informatively. We prove that with three alternatives, there are cases in which informative voting is rational and yet leads to the election of a wrong alternative.
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Suggested Citation

  • GOERTZ, Johanna M.M & MANIQUET, François, 2014. "Condorcet jury theorem: an example in which informative voting is rational but leads to inefficient information aggregation," LIDAM Reprints CORE 2613, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:2613
    Note: In : Economics Letters, 125(1), 25-28, 2014
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    References listed on IDEAS

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    1. Feddersen, Timothy J. & Pesendorfer, Wolfgang, 1999. "Abstention in Elections with Asymmetric Information and Diverse Preferences," American Political Science Review, Cambridge University Press, vol. 93(2), pages 381-398, June.
    2. Timothy Feddersen & Wolfgang Pesendorfer, 1997. "Voting Behavior and Information Aggregation in Elections with Private Information," Econometrica, Econometric Society, vol. 65(5), pages 1029-1058, September.
    3. Myerson, Roger B., 2000. "Large Poisson Games," Journal of Economic Theory, Elsevier, vol. 94(1), pages 7-45, September.
    4. Feddersen, Timothy & Pesendorfer, Wolfgang, 1998. "Convicting the Innocent: The Inferiority of Unanimous Jury Verdicts under Strategic Voting," American Political Science Review, Cambridge University Press, vol. 92(1), pages 23-35, March.
    5. Laurent Bouton & Micael Castanheira, 2012. "One Person, Many Votes: Divided Majority and Information Aggregation," Econometrica, Econometric Society, vol. 80(1), pages 43-87, January.
    6. Feddersen, Timothy J & Pesendorfer, Wolfgang, 1996. "The Swing Voter's Curse," American Economic Review, American Economic Association, vol. 86(3), pages 408-424, June.
    7. Myerson, Roger B., 1998. "Extended Poisson Games and the Condorcet Jury Theorem," Games and Economic Behavior, Elsevier, vol. 25(1), pages 111-131, October.
    8. 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.
    9. Myerson, Roger B., 2002. "Comparison of Scoring Rules in Poisson Voting Games," Journal of Economic Theory, Elsevier, vol. 103(1), pages 219-251, March.
    10. Austen-Smith, David & Banks, Jeffrey S., 1996. "Information Aggregation, Rationality, and the Condorcet Jury Theorem," American Political Science Review, Cambridge University Press, vol. 90(1), pages 34-45, March.
    11. repec:ulb:ulbeco:2013/162238 is not listed on IDEAS
    12. Wit, Jorgen, 1998. "Rational Choice and the Condorcet Jury Theorem," Games and Economic Behavior, Elsevier, vol. 22(2), pages 364-376, February.
    13. Sourav Bhattacharya, 2013. "Preference Monotonicity and Information Aggregation in Elections," Econometrica, Econometric Society, vol. 81(3), pages 1229-1247, May.
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    Cited by:

    1. Johanna M. M. Goertz, 2019. "A Condorcet Jury Theorem for Large Poisson Elections with Multiple Alternatives," Games, MDPI, vol. 11(1), pages 1-12, December.
    2. Chernomaz, K. & Goertz, J.M.M., 2023. "(A)symmetric equilibria and adaptive learning dynamics in small-committee voting," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
    3. Ginzburg, Boris, 2017. "Sincere voting in an electorate with heterogeneous preferences," Economics Letters, Elsevier, vol. 154(C), pages 120-123.

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    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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