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Specialization and partisanship in committee search

  • Shi, Xianwen

    ()

    (Department of Economics, University of Toronto)

  • Moldovanu, Benny

    ()

    (Department of Economics, University of Bonn)

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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Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 8 (2013)
Issue (Month): 3 (September)
Pages:

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Handle: RePEc:the:publsh:1292
Contact details of provider: Web page: http://econtheory.org

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  1. 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.
  2. Albrecht, James & Anderson, Axel & Vroman, Susan, 2010. "Search by committee," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1386-1407, July.
  3. Bruno Strulovici, 2008. "Learning while voting: determinants of collective experimentation," Economics Papers 2008-W08, Economics Group, Nuffield College, University of Oxford.
  4. Ettore Damiano & Hao Li & Wing Suen, 2008. "Delay in Strategic Information Aggregation," Working Papers tecipa-311, University of Toronto, Department of Economics.
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