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Storable Votes

  • Casella, Alessandra

Motivated by the need for more flexible decision-making mechanisms in the European Union, the paper proposes a simple but novel voting scheme for binary decisions taken by committees that meet regularly over time. At each meeting, committee members are allowed to store their vote for future use; the decision is then taken according to the majority of votes cast. The possibility of shifting votes intertemporally allows agents to concentrate their votes when preferences are more intense, and although the scheme will not in general achieve full efficiency, making votes storable typically leads to ex ante welfare gains. The analysis in the paper suggests that the result will hold if one of the following conditions is satisfied: (i) the number of voters is above a minimum threshold; (ii) preferences are not too polarized; (iii) the horizon is long enough.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3508.

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Date of creation: Aug 2002
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Handle: RePEc:cpr:ceprdp:3508
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  1. 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.
  2. Alessandra Casella, 2002. "Storable votes," Discussion Papers 0102-71, Columbia University, Department of Economics.
  3. Alessandra Casella & Andrew Gelman & Thomas R. Palfrey, 2003. "An Experimental Study of Storable Votes," NBER Working Papers 9982, National Bureau of Economic Research, Inc.
  4. Dixit, A. & Grossmann, G.M. & Gul, F., 1998. "A Theory of Political Compromise," Papers 191, Princeton, Woodrow Wilson School - Public and International Affairs.
  5. Martin Osborne & Jeffry Rosenthal & Matthew A. Turner, 1998. "Meetings with costly participation," Working Papers mturner-98-02, University of Toronto, Department of Economics.
  6. Atkeson, Andrew & Lucas, Robert E, Jr, 1992. "On Efficient Distribution with Private Information," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 427-53, July.
  7. John Ledyard & Thomas Palfrey, 2003. "The Approximation of Efficient Public Good Mechanisms by Simple Voting Schemes," Levine's Working Paper Archive 506439000000000103, David K. Levine.
  8. Tilman Börgers, 2001. "Costly Voting," NajEcon Working Paper Reviews 625018000000000232, www.najecon.org.
  9. Timothy Feddersen & Wolfgang Pesendorfer, 1994. "Voting Behavior and Information Aggregation in Elections with Private Information," Discussion Papers 1117, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  10. Phelan, Christopher & Townsend, Robert M, 1991. "Computing Multi-period, Information-Constrained Optima," Review of Economic Studies, Wiley Blackwell, vol. 58(5), pages 853-81, October.
  11. Piketty, Thomas, 1999. "The information-aggregation approach to political institutions," European Economic Review, Elsevier, vol. 43(4-6), pages 791-800, April.
  12. Paul Milgrom & Robert Weber, 1981. "Distributional Strategies for Games with Incomplete Information," Discussion Papers 428R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  13. Mueller, Dennis C., 1978. "Voting by veto," Journal of Public Economics, Elsevier, vol. 10(1), pages 57-75, August.
  14. Moulin, Herve, 1979. "Dominance Solvable Voting Schemes," Econometrica, Econometric Society, vol. 47(6), pages 1137-51, November.
  15. Moulin, H, 1982. "Voting with Proportional Veto Power," Econometrica, Econometric Society, vol. 50(1), pages 145-62, January.
  16. Athey, Susan & Bagwell, Kyle, 2001. "Optimal Collusion with Private Information," RAND Journal of Economics, The RAND Corporation, vol. 32(3), pages 428-65, Autumn.
  17. Colin M. Campbell, 1999. "Large Electorates and Decisive Minorities," Journal of Political Economy, University of Chicago Press, vol. 107(6), pages 1199-1217, December.
  18. d'ASPREMONT, Claude & GERARD-VARET, Louis-André, . "Incentives and incomplete information," CORE Discussion Papers RP -354, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  19. Townsend, Robert M, 1982. "Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1166-86, December.
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