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Meetings with Costly Participation

Author

Listed:
  • Jeffrey S. Rosenthal
  • Martin J. Osborne
  • Matthew A. Turner

Abstract

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.

Suggested Citation

  • Jeffrey S. Rosenthal & Martin J. Osborne & Matthew A. Turner, 2000. "Meetings with Costly Participation," American Economic Review, American Economic Association, vol. 90(4), pages 927-943, September.
    • Handle: RePEc:aea:aecrev:v:90:y:2000:i:4:p:927-943
    Note: DOI: 10.1257/aer.90.4.927
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    More about this item

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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