Voting as a Lottery
AbstractVoting is a lottery in which an individual who is uncertain about how the others vote wins if she belongs to the majority or loses if she falls into the minority. The risk of losing can be reduced by increasing the majority threshold. This however has the negative effect of also lowering the chance to win. We find that an individual prefers higher majority thresholds when she is more risk averse, less powerful, or less optimistic about the chance that others will vote like her. De facto, raising the majority threshold is a form of protection against the higher risk of being tyrannized by an unfavorable majority. We include these preferences for majority thresholds in a Nash bargaining game that describes constitutional negotiations over voting rules. Individuals that largely avert the risk of being tyrannized behave reluctantly during negotiations, and succeed in getting higher protection through a threshold raise.
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Bibliographic InfoPaper provided by Toulouse School of Economics (TSE) in its series TSE Working Papers with number 09-116.
Date of creation: Mar 2010
Date of revision: Nov 2010
majority rule; supermajority; risk aversion;
Other versions of this item:
- Giuseppe Attanasi & Luca CORAZZINI & Francesco PASSARELLI, 2009. "Voting as a Lottery," LERNA Working Papers 09.27.303, LERNA, University of Toulouse.
- Giuseppe Attanasi, Luca Corazzini, Francesco Passarelli, 2007. "Voting as a Lottery," ISLA Working Papers 28, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy.
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-22 (All new papers)
- NEP-CDM-2010-05-22 (Collective Decision-Making)
- NEP-POL-2010-05-22 (Positive Political Economics)
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