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Juries and Information Aggregation in Dynamic Environments

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  • Esteban Colla-De-Robertis

    (Universidad Panamericana)

Abstract

We study information aggregation through voting in dynamic environments. We show that the voting rule under which an informative vote is a Nash equilibrium entails a time-varying quota, which suggests that efficient information aggregation requires the use of time-varying voting rules. We also show that a time-invariant simple majority quota rule is asymptotically efficient, that is when the size of the committee tends to infinity. We discuss possible applications to the monitoring and managing of natural resources and the environment.

Suggested Citation

  • Esteban Colla-De-Robertis, 2023. "Juries and Information Aggregation in Dynamic Environments," Working Papers 272, Red Nacional de Investigadores en Economía (RedNIE).
    • Handle: RePEc:aoz:wpaper:272
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    File URL: https://rednie.eco.unc.edu.ar/files/DT/272.pdf
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    References listed on IDEAS

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    1. McLennan, Andrew, 1998. "Consequences of the Condorcet Jury Theorem for Beneficial Information Aggregation by Rational Agents," American Political Science Review, Cambridge University Press, vol. 92(2), pages 413-418, June.
    2. Ben-Yashar, Ruth C & Nitzan, Shmuel I, 1997. "The Optimal Decision Rule for Fixed-Size Committees in Dichotomous Choice Situations: The General Result," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(1), pages 175-186, February.
    3. Richard D. Smallwood & Edward J. Sondik, 1973. "The Optimal Control of Partially Observable Markov Processes over a Finite Horizon," Operations Research, INFORMS, vol. 21(5), pages 1071-1088, October.
    4. Duggan, John & Martinelli, Cesar, 2001. "A Bayesian Model of Voting in Juries," Games and Economic Behavior, Elsevier, vol. 37(2), pages 259-294, November.
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