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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) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Luca Corazzini

    (Unipd - Università degli Studi di Padova = University of Padua)

  • Francesco Passarelli

    (UniTE - Università degli Studi di Teramo)

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
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    Citations

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    Cited by:

    1. Giuseppe Attanasi & Luca CORAZZINI & Nikolaos GEORGANTZIS & Francesco PASSARELLI, 2009. "Risk Aversion, Over-Confidence and Private Information as determinants of Majority Thresholds," LERNA Working Papers 09.26.302, LERNA, University of Toulouse.
    2. 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.
    3. Barberà, Salvador & Coelho, Danilo, 2017. "Balancing the power to appoint officers," Games and Economic Behavior, Elsevier, vol. 101(C), pages 189-203.
    4. André de Palma & Gordon M. Myers & Yorgos Y. Papageorgiou, 2020. "Models of Imperfect Public Choice," Department of Economics Working Papers 2020-18, McMaster University.
    5. André de Palma & Gordon M. Myers & Yorgos Y. Papageorgiou, 2023. "Imperfect public choice," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1413-1429, November.
    6. Bellani, Luna & Ceolotto, Stefano & Elsner, Benjamin & Pestel, Nico, 2021. "Air Pollution Affects Decision-Making: Evidence from the Ballot Box," IZA Discussion Papers 14718, Institute of Labor Economics (IZA).
    7. Daniela Di Cagno & Daniela Grieco, 2019. "Measuring and Disentangling Ambiguity and Confidence in the Lab," Games, MDPI, vol. 10(1), pages 1-22, February.
    8. Leontiou, Anastasia & Manalis, Georgios & Xefteris, Dimitrios, 2023. "Bandwagons in costly elections: The role of loss aversion," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 471-490.
    9. Marina Bannikova & Artyom Jelnov & Pavel Jelnov, 2021. "The Number of Parties and Decision-Making in Legislatures," Games, MDPI, vol. 12(4), pages 1-10, October.
    10. 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.
    11. 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.
    12. Gersbach, Hans & Muller, Philippe & Tejada, Oriol, 2019. "Costs of change and political polarization," European Journal of Political Economy, Elsevier, vol. 60(C).
    13. Qingqing Cheng & Ming Li, 2019. "Optimal Majority Rule in Referenda," Games, MDPI, vol. 10(2), pages 1-23, June.
    14. 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.
    15. 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.

    More about this item

    Keywords

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    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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