Voting Behavior and Information Aggregation in Elections With Private Information
The authors analyze two-candidate elections in which voters are uncertain about the realization of a state variable that affects the utility of all voters. They assume each voter has noisy private information about the state variable. The authors show that, in equilibrium, almost all voters ignore their private signal when voting. Nevertheless, elections fully aggregate information in the sense that the chosen candidate would not change if all private information were common knowledge.
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- Wolfgang Pesendorfer & Jeroen M. Swinkels, 1997.
"The Loser's Curse and Information Aggregation in Common Value Auctions,"
Econometric Society, vol. 65(6), pages 1247-1282, November.
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"The Swing Voter's Curse,"
1064, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Wilson, Robert, 1977. "A Bidding Model of Perfect Competition," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 511-18, October.
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