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Large elections with multiple alternatives: a Condorcet Jury Theorem and inefficient equilibria

Author

Listed:
  • GOERTZ, Johanna

    () (University of Guelph, Canada & Université catholique de Louvain, CORE, Belgium)

  • MANIQUET, François

    () (Université catholique de Louvain, CORE, Belgium)

Abstract

We investigate whether the plurality rule aggregates information efficiently in large elections with multiple alternatives, in which voters have common interests. Voters’ preferences depend on an unknown state of nature, and they receive imprecise private signals about the state of nature prior to the election. Similar to two-alternative elections (e.g., Myer- son (1998)), there always exists an informationally efficient equilibrium in which the correct alternative is elected. However, we identify new types of coordination failures in elections with more than two alternatives that lead to new types of inefficient equilibria. These can have interesting new properties: Voters may vote informatively, but the correct alternative is not elected.

Suggested Citation

  • GOERTZ, Johanna & MANIQUET, François, 2013. "Large elections with multiple alternatives: a Condorcet Jury Theorem and inefficient equilibria," CORE Discussion Papers 2013023, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvco:2013023
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    File URL: http://uclouvain.be/cps/ucl/doc/core/documents/coredp2013_23web.pdf
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    References listed on IDEAS

    as
    1. Fleurbaey,Marc & Maniquet,François, 2011. "A Theory of Fairness and Social Welfare," Cambridge Books, Cambridge University Press, number 9780521715348, March.
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    4. Goertz, Johanna M.M. & Maniquet, François, 2011. "On the informational efficiency of simple scoring rules," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1464-1480, July.
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    7. Laurent Bouton & Micael Castanheira, 2012. "One Person, Many Votes: Divided Majority and Information Aggregation," Econometrica, Econometric Society, vol. 80(1), pages 43-87, January.
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    More about this item

    Keywords

    efficient information aggregation; simple plurality rule; Poisson games; Condorcet Jury Theorem;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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