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An experimental study of storable votes

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  • Casella, Alessandra
  • Gelman, Andrew
  • Palfrey, Thomas R.

Abstract

The storable votes mechanism is a method of voting for committees that meet periodically to consider a series of binary decisions. Each member is allocated a fixed budget of votes to be cast as desired over the multiple decisions. Voters are induced to spend more votes on those decisions that matter to them most, shifting the ex ante probability of winning away from decisions they value less and towards decisions they value more, typically generating welfare gains over standard majority voting with non-storable votes. The equilibrium strategies have a very intuitive feature ­the number of votes cast must be monotonic in the voter's intensity of preferences ­but are otherwise difficult to calculate, raising questions of practical implementation. In our experiments, realized efficiency levels were remarkably close to theoretical equilibrium predictions, while subjects adopted monotonic but off-equilibrium strategies. We are lead to conclude that concerns about the complexity of the game may have limited practical relevance.
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Suggested Citation

  • Casella, Alessandra & Gelman, Andrew & Palfrey, Thomas R., 2006. "An experimental study of storable votes," Games and Economic Behavior, Elsevier, vol. 57(1), pages 123-154, October.
  • Handle: RePEc:eee:gamebe:v:57:y:2006:i:1:p:123-154
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    References listed on IDEAS

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    1. Steven J. Brams, 1997. "Game Theory And Emotions," Rationality and Society, , pages 91-124.
    2. Casella, Alessandra & Gelman, Andrew & Palfrey, Thomas R., 2006. "An experimental study of storable votes," Games and Economic Behavior, Elsevier, vol. 57(1), pages 123-154, October.
    3. Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2013. "Minorities and Storable Votes," World Scientific Book Chapters,in: International Trade Agreements and Political Economy, chapter 15, pages 247-282 World Scientific Publishing Co. Pte. Ltd..
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    12. Casella, Alessandra, 2005. "Storable votes," Games and Economic Behavior, Elsevier, vol. 51(2), pages 391-419, May.
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    JEL classification:

    • H1 - Public Economics - - Structure and Scope of Government
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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