Minority voting and long-term decisions
In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects including a first-period project that may have long-lasting impact. In the first period, a simple open majority voting scheme takes place. Voting splits the committee into three groups: voting winners, voting losers, and absentees. Under minority voting, only voting losers retain their voting rights in the second period. We show that as soon as absolute risk aversion exceeds a threshold value, minority voting is superior to repeated application of the simple majority rule.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Crawford, Vincent P & Haller, Hans, 1990. "Learning How to Cooperate: Optimal Play in Repeated Coordination Games," Econometrica, Econometric Society, vol. 58(3), pages 571-595, May.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2006.
"Minorities and Storable Votes,"
321307000000000199, UCLA Department of Economics.
- Casella, Alessandra & Palfrey, Thomas & Riezman, Raymond, 2008. "Minorities and Storable Votes," Quarterly Journal of Political Science, now publishers, vol. 3(2), pages 165-200, July.
- 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..
- Casella, Alessandra & Palfrey, Thomas R. & Riezman, Raymond, 2006. "Minorities and storable votes," Working Papers 1261, California Institute of Technology, Division of the Humanities and Social Sciences.
- Casella, Alessandra & Palfrey, Thomas R & Riezman, Raymond, 2005. "Minorities and Storable Votes," CEPR Discussion Papers 5278, C.E.P.R. Discussion Papers.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," CESifo Working Paper Series 1583, CESifo Group Munich.
- Casella, Alessandra & Palfrey, Thomas & Riezman, Raymond, 2005. "Minorities and Storable Votes," Papers 09-19-2005b, Princeton University, Research Program in Political Economy.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," NBER Working Papers 11674, National Bureau of Economic Research, Inc.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," Economics Working Papers 0059, Institute for Advanced Study, School of Social Science.
- Casella, Alessandra, 2005.
Games and Economic Behavior,
Elsevier, vol. 51(2), pages 391-419, May.
- Sugden, Robert, 1995. "A Theory of Focal Points," Economic Journal, Royal Economic Society, vol. 105(430), pages 533-550, May.
- Carlos Alï¿½s-Ferrer & Christoph Kuzmics, 2008.
"Hidden Symmetries and Focal Points,"
TWI Research Paper Series
35, Thurgauer Wirtschaftsinstitut, Universitï¿½t Konstanz.
- Philipson, Tomas J & Snyder, James M, Jr, 1996. "Equilibrium and Efficiency in an Organized Vote Market," Public Choice, Springer, vol. 89(3-4), pages 245-265, December.
- Casajus, Andre, 2000. "Focal Points in Framed Strategic Forms," Games and Economic Behavior, Elsevier, vol. 32(2), pages 263-291, August.
- Helge Berger & Jakob de Haan & Robert Inklaar, 2003. "Restructuring the ECB," CESifo Working Paper Series 1084, CESifo Group Munich.
- Rafael Hortala-Vallve, 2007.
Economics Series Working Papers
320, University of Oxford, Department of Economics.
- H. Peyton Young, 1996. "The Economics of Convention," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 105-122, Spring.
- Maarten Janssen, 2001. "Rationalizing Focal Points," Theory and Decision, Springer, vol. 50(2), pages 119-148, March.
- Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:69:y:2010:i:2:p:329-345. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If references are entirely missing, you can add them using this form.