Minority Voting and Long-term Decisions
In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects where the first-period project may have a long-lasting impact. In the first period a simple open majority voting scheme takes place. Voting splits the committee into three groups: voting winners, voting losers, and absentees. Under minority voting only voting losers keep the voting right in the second period. We show that as soon as absolute risk aversion exceeds a threshold value minority voting is superior to repeated application of the simple majority rule.
|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: Poschingerstrasse 5, 81679 Munich|
Phone: +49 (89) 9224-0
Fax: +49 (89) 985369
Web page: http://www.cesifo-group.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2006.
"Minorities and Storable Votes,"
321307000000000199, UCLA Department of Economics.
- Casella, Alessandra & Palfrey, Thomas & Riezman, Raymond, 2008. "Minorities and Storable Votes," Quarterly Journal of Political Science, now publishers, vol. 3(2), pages 165-200, July.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2013. "Minorities and Storable Votes," World Scientific Book Chapters, in: International Trade Agreements and Political Economy, chapter 15, pages 247-282 World Scientific Publishing Co. Pte. Ltd..
- Casella, Alessandra & Palfrey, Thomas R. & Riezman, Raymond, 2006. "Minorities and storable votes," Working Papers 1261, California Institute of Technology, Division of the Humanities and Social Sciences.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," NBER Working Papers 11674, National Bureau of Economic Research, Inc.
- Casella, Alessandra & Palfrey, Thomas & Riezman, Raymond, 2005. "Minorities and Storable Votes," Papers 09-19-2005b, Princeton University, Research Program in Political Economy.
- Casella, Alessandra & Palfrey, Thomas R & Riezman, Raymond, 2005. "Minorities and Storable Votes," CEPR Discussion Papers 5278, C.E.P.R. Discussion Papers.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," Economics Working Papers 0059, Institute for Advanced Study, School of Social Science.
- Alessandra Casella & Thomas Palfrey & Raymond Riezman, 2005. "Minorities and Storable Votes," CESifo Working Paper Series 1583, CESifo Group Munich.
- H. Peyton Young, 1996. "The Economics of Convention," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 105-122, Spring.
- Sugden, Robert, 1995. "A Theory of Focal Points," Economic Journal, Royal Economic Society, vol. 105(430), pages 533-50, May.
- Rafael Hortala-Vallve, 2012.
Journal of Theoretical Politics,
SAGE Publishing, vol. 24(4), pages 526-554, October.
- Philipson, Tomas J & Snyder, James M, Jr, 1996. "Equilibrium and Efficiency in an Organized Vote Market," Public Choice, Springer, vol. 89(3-4), pages 245-65, December.
- Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
- Crawford, Vincent P & Haller, Hans, 1990. "Learning How to Cooperate: Optimal Play in Repeated Coordination Games," Econometrica, Econometric Society, vol. 58(3), pages 571-95, May.
- Casajus, Andre, 2000. "Focal Points in Framed Strategic Forms," Games and Economic Behavior, Elsevier, vol. 32(2), pages 263-291, August.
- Alós-Ferrer, Carlos & Kuzmics, Christoph, 2013.
"Hidden symmetries and focal points,"
Journal of Economic Theory,
Elsevier, vol. 148(1), pages 226-258.
- Alessandra Casella, 2002.
NBER Working Papers
9189, National Bureau of Economic Research, Inc.
- Maarten Janssen, 2001. "Rationalizing Focal Points," Theory and Decision, Springer, vol. 50(2), pages 119-148, March.
- Helge Berger & Jakob de Haan & Robert Inklaar, 2003. "Restructuring the ECB," CESifo Working Paper Series 1084, CESifo Group Munich.
When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_2198. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Klaus Wohlrabe)
If references are entirely missing, you can add them using this form.