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Minority Voting and Long-term Decisions

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Author Info
Theresa Fahrenberger () (Center of Economic Research (CER-ETH) at ETH Zurich)
Hans Gersbach () (Center of Economic Research (CER-ETH) at ETH Zurich)

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Abstract

In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects where the first-period project may have a long-lasting impact. In the first period a simple open majority voting scheme takes place. Voting splits the committee into three groups: voting winners, voting losers, and absentees. Under minority voting only voting losers keep the voting right in the second period. We show that as soon as absolute risk aversion exceeds a threshold value minority voting is superior to repeated application of the simple majority rule.

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Publisher Info
Paper provided by CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich in its series Economics working paper series with number 07/70.

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Length: 53 pages
Date of creation: Jul 2007
Date of revision:
Handle: RePEc:eth:wpswif:07-70

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Related research
Keywords: voting; minority; durable decision; risk aversion; tyranny of majority rules;

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Find related papers by JEL classification:
D7 - Microeconomics - - Analysis of Collective Decision-Making

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
  2. Christa N. Brunnschweiler & Erwin H. Bulte, 2006. "The Resource Curse Revisited and Revised: A Tale of Paradoxes and Red Herrings," Economics working paper series 06/61, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
    Other versions:
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  6. Clive Bell & Hans Gersbach, 2006. "Growth and Enduring Epidemic Diseases," Economics working paper series 06/57, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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  9. Gersbach, Hans & Winkler, Ralph, 2007. "On the Design of Global Refunding and Climate Change," CEPR Discussion Papers 6379, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Gersbach, Hans / Fahrenberger, Theresa, 2008. "Minority Voting and Long-term Decisions," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  19. Oliver Grimm & Stefan Ried, 2007. "Macroeconomic Policy in a Heterogeneous Monetary Union," Economics working paper series 07/67, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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  21. Rafael Hortala-Vallve, 2007. "Qualitative Voting," Economics Series Working Papers 320, University of Oxford, Department of Economics. [Downloadable!]
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  23. Theresa Fahrenberger & Hans Gersbach, 2007. "Legislative Process with Open Rules," Economics working paper series 07/64, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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  24. Simone Valente, 2007. "Human Capital, Resource Constraints and Intergenerational Fairness," Economics working paper series 07/68, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Theresa Fahrenberger & Hans Gersbach, 2007. "Minority Voting and Long-term Decisions," Economics working paper series 07/70, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
    Other versions:
  2. Hans Gersbach & Volker Hahn, 2008. "Forward Guidance for Monetary Policy: Is It Desirable?," Economics working paper series 08/84, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  3. Simone Valente, 2007. "International Status Seeking, Trade, and Growth Leadership," Economics working paper series 07/75, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  4. Edward J. Balistreri & Russell H. Hillberry & Thomas F. Rutherford, 2008. "Structural Estimation and Solution of International Trade Models with Heterogeneous Firms," Economics working paper series 08/89, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
    Other versions:
  5. Gersbach, Hans, 2007. "Minority Voting and Public Project Provision," Economics Discussion Papers 2007-20, Kiel Institute for the World Economy. [Downloadable!]
  6. Christoph Heinzel & Ralph Winkler, 2007. "The role of environmental and technology policies in the transition to a low-carbon energy industry," Economics working paper series 07/71, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  7. Ian A. MacKenzie,, 2008. "On the Sequential Choice of Tradable Permit Allocations," Economics working paper series 08/83, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  8. Volker Hahn, 2007. "Information Acquisition by Price-Setters and Monetary Policy," Economics working paper series 07/73, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  9. Hans Gersbach & Maik T. Schneider & Olivier Schneller, 2008. "On the Design of Basic-Research Policy," Economics working paper series 08/79, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  10. Ralph Winkler, 2007. "Why do ICDPs fail? The relationship between subsistence farming, poaching and eco- tourism in wildlife and habitat conservation," Economics working paper series 07/76, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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