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Justification of the simple majority and chairman rules

Author

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  • Drora Karotkin

    (Bar-Ilan University, Department of Economics, Ramat-Gan 52900, Israel)

Abstract

Employing the uncertain dichotomous model, this work proves the optimality of the simple majority and the chairman rules under complete ignorance of the decision competencies of the decision makers. The optimality of these commonly used rules is also retained under certain patterns of partial information on the characteristics of the distribution of the members' competencies.

Suggested Citation

  • Drora Karotkin, 1996. "Justification of the simple majority and chairman rules," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(4), pages 479-486.
  • Handle: RePEc:spr:sochwe:v:13:y:1996:i:4:p:479-486
    Note: Received: 6 April 1992/Accepted: 29 September 1995
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    Cited by:

    1. Montoro, Carlos, 2007. "Monetary policy committees and interest rate smoothing," LSE Research Online Documents on Economics 19752, London School of Economics and Political Science, LSE Library.
    2. Hyewon Jeong & Biung-Ghi Ju, 2017. "Resolute majority rules," Theory and Decision, Springer, vol. 82(1), pages 31-39, January.
    3. Montoro, Carlos, 2012. "Oil Shocks And Optimal Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, vol. 16(02), pages 240-277, April.
    4. Gerlach-Kristen, Petra, 2006. "Monetary policy committees and interest rate setting," European Economic Review, Elsevier, vol. 50(2), pages 487-507, February.
    5. repec:spr:grdene:v:10:y:2001:i:5:d:10.1023_a:1011831413677 is not listed on IDEAS
    6. Carlos Montoro, 2007. "Why Central Banks Smooth Interest Rates? A Political Economy Explanation," Working Papers 2007-003, Banco Central de Reserva del PerĂº.

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