Meetings with Costly Participation
We study a collective decision-making process in which people interested in an issue may participate, at a cost, in a meeting, and the resulting decision is a compromise among the participants' preferences. We show that the equilibrium number of participants is small and their positions are extreme, and when the compromise is the median, the outcome is likely to be random. The model and its equilibria are consistent with evidence on the procedures and outcomes of U.S. regulatory hearings.
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Volume (Year): 90 (2000)
Issue (Month): 4 (September)
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- Baye, Michael R & Kovenock, Dan & de Vries, Casper G, 1993.
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- Feddersen, Timothy J & Pesendorfer, Wolfgang, 1996. "The Swing Voter's Curse," American Economic Review, American Economic Association, vol. 86(3), pages 408-424, June.
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- Winter, Eyal, 1997. "Negotiations in multi-issue committees," Journal of Public Economics, Elsevier, vol. 65(3), pages 323-342, September.
- Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, Oxford University Press, vol. 98(3), pages 371-400. Full references (including those not matched with items on IDEAS)
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