The invalidity of the Condorcet Jury Theorem under endogenous decisional skills
The current note clarifies that Condorcet Jury Theorem cannot be generalized to the extended setting where individual decisional skills are not assumed to be exogenous parameters even when these skills are homogeneous. This is true when skills are determined endogenously either by a central planner or, in a decentralized strategic setting, by the decision makers themselves. Copyright Springer-Verlag Berlin Heidelberg 2001
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Volume (Year): 2 (2001)
Issue (Month): 3 (November)
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