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Committees, sequential voting and transparency

  • Hahn, Volker

We propose a model of sequential voting in committees, where members use their individual votes to signal high efficiency in their bid to become re-appointed. Transparency precludes efficient information aggregation, and thus decreases the utility of the principal in the first period; it may be beneficial to her in the second period. Under transparency, equilibria under sequential voting always differ from those under simultaneous voting and may lead to more or less efficient information aggregation.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165-4896(08)00054-1
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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 56 (2008)
Issue (Month): 3 (November)
Pages: 366-385

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Handle: RePEc:eee:matsoc:v:56:y:2008:i:3:p:366-385
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505565

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  1. Scharfstein, David S & Stein, Jeremy C, 1990. "Herd Behavior and Investment," American Economic Review, American Economic Association, vol. 80(3), pages 465-79, June.
  2. Daniel Seidmann, 2006. "A Theory of Voting Patterns and Performance in Private and Public Committees," Discussion Papers 2006-07, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  3. Battaglini, Marco, 2005. "Sequential voting with abstention," Games and Economic Behavior, Elsevier, vol. 51(2), pages 445-463, May.
  4. Bauke Visser & Otto H. Swank, 2005. "On Committees of Experts," Tinbergen Institute Discussion Papers 05-028/1, Tinbergen Institute.
  5. repec:oup:restud:v:74:y:2007:i:3:p:653-684 is not listed on IDEAS
  6. Gilat Levy, 2005. "Decision making in committees: transparency, reputation and voting rules," LSE Research Online Documents on Economics 543, London School of Economics and Political Science, LSE Library.
  7. Anne Sibert, 2003. "Monetary Policy Committees: Individual and Collective Reputations," Review of Economic Studies, Oxford University Press, vol. 70(3), pages 649-665.
  8. Hahn, Volker & Gersbach, Hans, 2001. "Should the Individual Voting Records of Central Bankers be Published?," Discussion Paper Series 1: Economic Studies 2001,02, Deutsche Bundesbank, Research Centre.
  9. John Fingleton, 2005. "Career Concerns of Bargainers," Journal of Law, Economics and Organization, Oxford University Press, vol. 21(1), pages 179-204, April.
  10. Hans Gersbach & Volker Hahn, 2004. "Voting Transparency, Conflicting Interests, And The Appointment Of Central Bankers," Economics and Politics, Wiley Blackwell, vol. 16, pages 321-345, November.
  11. Job Swank & Otto Swank & Bauke Visser, 2006. "Transparency and Pre-meetings," Tinbergen Institute Discussion Papers 06-051/1, Tinbergen Institute.
  12. Trueman, Brett, 1994. "Analyst Forecasts and Herding Behavior," Review of Financial Studies, Society for Financial Studies, vol. 7(1), pages 97-124.
  13. Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September.
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