Optimal Quotas in Private Committees
According to conventional wisdom, raising the quota either causes a committee to retain the status quo or has no effect on its performance; so a committee which would otherwise select good decisions should operate with a low quota. We show that conventional wisdom may fail when members vote in private: raising the quota may prevent such a committee from retaining the status quo, and can cause it to switch between new decisions. Nevertheless, reducing the quota may improve a private committee's performance. Copyright 2008 The Author(s). Journal compilation Royal Economic Society 2008.
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Volume (Year): 118 (2008)
Issue (Month): 525 (01)
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