Specialization and partisanship in committee search
A committee decides by unanimity whether to accept the current alternative, or to continue costly search. Each alternative is described by a vector of distinct attributes, and each committee member can privately assess the quality of one attribute (her "specialty"). Preferences are heterogeneous and interdependent: each specialist values all attributes, but puts a higher weight on her specialty (partisanship). We study how acceptance standards and members' welfare vary with the amount of conflict within the committee. We also compare decisions made by committees consisting of specialized experts to decisions made by committees of generalists who can each assess all information available. The acceptance standard decreases (increases) in the degree of conflict when information is public (private). In both cases welfare decreases in the level of conflict. Finally, we identify situations where specialized committee decisions yield Pareto improvements over specialized, one-person decisions and over committee decisions made by generalists.
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- Albrecht, James & Anderson, Axel & Vroman, Susan, 2010.
"Search by committee,"
Journal of Economic Theory,
Elsevier, vol. 145(4), pages 1386-1407, July.
- James Albrecht & Axel Anderson & Susan Vroman, 2007. "Search by Committee," Working Papers gueconwpa~07-07-09, Georgetown University, Department of Economics.
- Susan Vroman & Axel Anderson & James Albrecht, 2007. "Search by Committee," 2007 Meeting Papers 351, Society for Economic Dynamics.
- Albrecht, James & Anderson, Axel Z. & Vroman, Susan, 2007. "Search by Committee," IZA Discussion Papers 3137, Institute for the Study of Labor (IZA).
- Bruno Strulovici, 2008.
"Learning while voting: determinants of collective experimentation,"
2008-W08, Economics Group, Nuffield College, University of Oxford.
- Bruno Strulovici, 2010. "Learning While Voting: Determinants of Collective Experimentation," Econometrica, Econometric Society, vol. 78(3), pages 933-971, 05.
- Bruno Strulovici, 2008. "Learning While Voting: Determinants of Collective Experimentation," Economics Series Working Papers 2008-WO8, University of Oxford, Department of Economics.
- Ettore Damiano & Hao Li & Wing Suen, 2008. "Delay in Strategic Information Aggregation," Working Papers tecipa-311, University of Toronto, Department of Economics.
- Alpern, Steve & Gal, Shmuel & Solan, Eilon, 2010. "A sequential selection game with vetoes," Games and Economic Behavior, Elsevier, vol. 68(1), pages 1-14, January.
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