Meetings With Costly Participation: A Comment
AbstractIn a recent paper Osborne, Rosenthal and Turner (2000) investigate a model of meetings with costly participation. Their main result is that the equilibrium number of participants is small and their positions are extreme. In particular, when the policy space is one-dimensional and the policy outcome is the median of participants' positions, they conclude that the number of attendees is even. The proof is flawed. We construct an example with an odd number of attendees. Oddness of the number of participants has a dramatic consequence on how equilibria look like.
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Bibliographic InfoPaper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we040502.
Date of creation: Jan 2004
Date of revision:
Other versions of this item:
- NEP-ALL-2004-03-14 (All new papers)
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- Jeffrey S. Rosenthal & Martin J. Osborne & Matthew A. Turner, 2000.
"Meetings with Costly Participation,"
American Economic Review,
American Economic Association, vol. 90(4), pages 927-943, September.
- Bulkley, George & Myles, Gareth D., 2001.
"Individually rational union membership,"
European Journal of Political Economy,
Elsevier, vol. 17(1), pages 117-137, March.
- Martin J. Osborne & Jeffrey S. Rosenthal & Matthew A. Turner, 2005. "Meetings with Costly Participation: Reply," American Economic Review, American Economic Association, vol. 95(4), pages 1351-1354, September.
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