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Voting With Interdependent Values: The Condorcet Winner

Author

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  • Alex Gershkov

  • Andreas Kleiner

  • Benny Moldovanu

  • Xianwen Shi

Abstract

We generalize the standard, private values voting model with single-peaked preferences and incomplete information by introducing interdependent preferences. Our main results show how standard mechanisms that are outcome-equivalent and implement the Con- dorcet winner under complete information or under private values yield starkly di¤erent outcomes if values are interdependent. We also propose a new notion of Condorcet winner under incomplete information and interdependent preferences, and discuss its implemen- tation. The new phenomena in this paper arise because di¤erent voting rules (including dynamic ones) induce di¤erent processes of information aggregation and learning.

Suggested Citation

  • Alex Gershkov & Andreas Kleiner & Benny Moldovanu & Xianwen Shi, 2023. "Voting With Interdependent Values: The Condorcet Winner," CRC TR 224 Discussion Paper Series crctr224_2023_414, University of Bonn and University of Mannheim, Germany.
    • Handle: RePEc:bon:boncrc:crctr224_2023_414
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    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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