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Information Aggregation and Preference Heterogeneity in Committees

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Author Info
Elisabeth Schulte () (Department of Economics, University of Mannheim)

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Abstract

This paper is concerned with the efficiency of information aggregation in a committee whose members have heterogeneous preferences over a binary decision variable. In a first stage, agents may exchange private (decision-relevant) information which is assumed to be verifiable. Then they reach a decision via majority voting. We study different information environments and identify conditions under which full information aggregation is possible. In particular, if preferences are common knowledge and each committee member is endowed with information full information aggregation is possible despite preference heterogeneity.

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Publisher Info
Paper provided by JEPS in its series JEPS Working Papers with number 06-003.

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Length: 45 pages
Date of creation: Oct 2006
Date of revision:
Handle: RePEc:jep:wpaper:06003

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Related research
Keywords: Information aggregation; committee decisions; preference heterogeneity;

Find related papers by JEL classification:
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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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.:
  1. Dino Gerardi & Leeat Yariv, 2003. "Putting Your Ballot Where Your Mouth Is: An Analysis of Collective Choice with Communication," UCLA Economics Working Papers 827, UCLA Department of Economics. [Downloadable!]
  2. David Austen-Smith & Tim Feddersen, 2002. "Deliberation and Voting Rules," Discussion Papers 1359, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  3. Timothy Feddersen & Wolfgang Pesendorfer, 1996. "Convicting the Innocent: The Inferiority of Unanimous Jury Verdicts," Discussion Papers 1170, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  4. Dino Gerardi & Richard McLean & Andrew Postlewaite, 2005. "Aggregation of Expert Opinions," PIER Working Paper Archive 05-016, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania. [Downloadable!]
    Other versions:
  5. Gerling, Kerstin & Gruner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth, 2005. "Information acquisition and decision making in committees: A survey," European Journal of Political Economy, Elsevier, vol. 21(3), pages 563-597, September. [Downloadable!] (restricted)
    Other versions:
  6. Ulrich Doraszelski & Dino Gerardi & Francesco Squintani, 2003. "Communication and Voting with Double-Sided Information," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  7. Abhijit Banerjee & Rohini Somanathan, 2001. "A Simple Model Of Voice," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 189-227, February. [Downloadable!] (restricted)
  8. Paul Milgrom & John Roberts, 1986. "Relying on the Information of Interested Parties," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 18-32, Spring. [Downloadable!] (restricted)
    Other versions:
  9. 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.
    Other versions:
  10. Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Blackwell Publishing, vol. 71(1), pages 165-191, 01. [Downloadable!] (restricted)
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