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On the informational efficiency of simple scoring rules

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  • GOERTZ, Johanna M.M.
  • MANIQUET, François

Abstract

We study information aggregation in large elections. With two candidates, efficient information aggregation is possible (e.g., Feddersen and Pesendorfer [5], [6] and [7]). We show that this result does not extend to elections with more than two candidates. We study a class of simple scoring rules in voting games with Poisson population uncertainty and three candidates. No simple scoring rule aggregates information efficiently, even if preferences are dichotomous and a Condorcet winner always exists. We introduce a weaker criterion of informational efficiency that requires a voting rule to have at least one efficient equilibrium. Only approval voting satisfies this criterion.
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Suggested Citation

  • GOERTZ, Johanna M.M. & MANIQUET, François, 2011. "On the informational efficiency of simple scoring rules," LIDAM Reprints CORE 2326, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:2326
    DOI: 10.1016/j.jet.2011.03.001
    Note: In : Journal of Economic Theory, 146(4), 1464-1480, 2011
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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