Commitee decisions: optimality and equilibrium
AbstractWe consider a committee facing a binary decision under uncertainty. Each member holds some private information. Members may have different preferences and initial beliefs, but they all agree which decision should be taken in each of the two states of the world. We characterize the optimal anonymous and deterministic voting rule and provide a homogeneity assumption on preferences and beliefs under which sincere voting is a Nash equilibrium for this rule. We also provide a necessary and sufficient condition for sincere voting to be an equilibrium under any deterministic majoritarian voting rule. We show that a class of slightly randomized majoritarian voting rules make sincere voting a strict and unique pure-strategy equilibrium. A slight deontological preference for sincere voting, or ex post revelation of individual votes – ”transparency” – combined with a concern for esteem, has the same effect.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 692.
Length: 49 pages
Date of creation: 28 Jan 2008
Date of revision: 11 Mar 2008
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More information through EDIRC
voting; condorcet; committee; jury; judgement aggregation.;
Other versions of this item:
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-02-02 (All new papers)
- NEP-CDM-2008-02-02 (Collective Decision-Making)
- NEP-GTH-2008-02-02 (Game Theory)
- NEP-POL-2008-02-02 (Positive Political Economics)
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