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Voting as a lottery

Author

Listed:
  • Giuseppe Attanasi

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique, LEM - Laboratoire d'Economie et de Management - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015-2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur)

  • Luca Corazzini

    (Universita degli Studi di Padova)

  • Francesco Passarelli

    (UNITE - Universita degli studi di Teramo - University of Teramo [Italie])

Abstract

This paper studies the issue of constitutional design, and supermajorities in particular, from a behavioral economics perspective. The relevant parameters are voting power, risk aversion, and pessimism. Voters who feel powerful prefer lower thresholds, while risk averters and those who feel pessimistic about the majority prefer higher thresholds. We also analyze the e§ects of loss aversion and overconÖdence. The former leads voters to prefer more protective voting rules, a manifestation of their bias towards the status quo. The latter leads them to prefer overly low (high) protection when they receive good (bad) news about how others will vote. Finally, we study constitutional agreements on the voting rule. Members of the constituent assembly are heterogeneous in the parameters above. Weak and minority members anticipate high expropriation risk in future decisions. This gives them consistent leverage to push for a protective constitution.

Suggested Citation

  • Giuseppe Attanasi & Luca Corazzini & Francesco Passarelli, 2017. "Voting as a lottery," Post-Print hal-01744493, HAL.
  • Handle: RePEc:hal:journl:hal-01744493
    DOI: 10.1016/j.jpubeco.2016.11.016
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01744493
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    3. Barberà, Salvador & Coelho, Danilo, 2017. "Balancing the power to appoint officers," Games and Economic Behavior, Elsevier, vol. 101(C), pages 189-203.
    4. Giuseppe Attanasi & Luca Corazzini & Nikolaos Georgantzís & Francesco Passarelli, 2014. "Special Section: Experiments on Learning, Methods, and Voting," Pacific Economic Review, Wiley Blackwell, vol. 19(3), pages 355-386, August.
    5. André de Palma & Gordon M. Myers & Yorgos Y. Papageorgiou, 2020. "Models of Imperfect Public Choice," Department of Economics Working Papers 2020-18, McMaster University.
    6. Andre de Palma & Gordon M. Myers & Yorgos Y Papageorgiou, 2020. "Imperfect Public Choice," Discussion Papers dp21-01, Department of Economics, Simon Fraser University.
      • André de Palma & Gordon M. Myers & Yorgos Y. Papageorgiou, 2020. "Imperfect Public Choice," THEMA Working Papers 2020-13, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
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    8. Daniela Di Cagno & Daniela Grieco, 2019. "Measuring and Disentangling Ambiguity and Confidence in the Lab," Games, MDPI, vol. 10(1), pages 1-22, February.
    9. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    10. Francesco Passarelli, 2011. "Risky Political Changes: Rational Choice vs Prospect Theory," ISLA Working Papers 39, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy.
    11. Gersbach, Hans & Muller, Philippe & Tejada, Oriol, 2019. "Costs of change and political polarization," European Journal of Political Economy, Elsevier, vol. 60(C).
    12. Qingqing Cheng & Ming Li, 2019. "Optimal Majority Rule in Referenda," Games, MDPI, vol. 10(2), pages 1-23, June.
    13. Jet G Sanders & Rob Jenkins, 2016. "Weekly Fluctuations in Risk Tolerance and Voting Behaviour," PLOS ONE, Public Library of Science, vol. 11(7), pages 1-12, July.
    14. Lisa R. Anderson & Charles A. Holt & Katri K. Sieberg & Beth A. Freeborn, 2022. "An Experimental Study of Strategic Voting and Accuracy of Verdicts with Sequential and Simultaneous Voting," Games, MDPI, vol. 13(2), pages 1-28, March.

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    More about this item

    Keywords

    Behavioral Economics; Vote; Majority rule; Supermajority; Risk aversion; Weighted votes; Loss aversion; Overconfidence; Tyranny of the majority;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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