Commitee decisions: optimality and equilibrium
We consider a committee facing a binary decision under uncertainty. Each member holds some private information. Members may have different preferences and initial beliefs, but they all agree which decision should be taken in each of the two states of the world. We characterize the optimal anonymous and deterministic voting rule and provide a homogeneity assumption on preferences and beliefs under which sincere voting is a Nash equilibrium for this rule. We also provide a necessary and sufficient condition for sincere voting to be an equilibrium under any deterministic majoritarian voting rule. We show that a class of slightly randomized majoritarian voting rules make sincere voting a strict and unique pure-strategy equilibrium. A slight deontological preference for sincere voting, or ex post revelation of individual votes – ”transparency” – combined with a concern for esteem, has the same effect.
|Date of creation:||28 Jan 2008|
|Date of revision:||11 Mar 2008|
|Contact details of provider:|| Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden|
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
Web page: http://www.hhs.se/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andrew McLennan, 2008.
"Manipulation in Elections with Uncertain Preferences,"
Discussion Papers Series
360, School of Economics, University of Queensland, Australia.
- McLennan, Andrew, 2011. "Manipulation in elections with uncertain preferences," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 370-375.
- Hans Gersbach & Volker Hahn, 2008.
"Should the individual voting records of central bankers be published?,"
Social Choice and Welfare,
Springer;The Society for Social Choice and Welfare, vol. 30(4), pages 655-683, May.
- Hahn, Volker & Gersbach, Hans, 2001. "Should the Individual Voting Records of Central Bankers be Published?," Discussion Paper Series 1: Economic Studies 2001,02, Deutsche Bundesbank, Research Centre.
- Roger B. Myerson, 1994.
"Extended Poisson Games and the Condorcet Jury Theorem,"
1103, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Myerson, Roger B., 1998. "Extended Poisson Games and the Condorcet Jury Theorem," Games and Economic Behavior, Elsevier, vol. 25(1), pages 111-131, October.
- Hahn, Volker, 2008. "Committees, sequential voting and transparency," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 366-385, November.
- Gerardi, Dino & Yariv, Leeat, 2007. "Deliberative voting," Journal of Economic Theory, Elsevier, vol. 134(1), pages 317-338, May.
- Sah, Raaj Kumar & Stiglitz, Joseph E, 1988. "Committees, Hierarchies and Polyarchies," Economic Journal, Royal Economic Society, vol. 98(391), pages 451-470, June.
- Bauke Visser & Otto H. Swank, 2007.
"On Committees of Experts,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 122(1), pages 337-372.
- Feddersen, Timothy J & Pesendorfer, Wolfgang, 1996.
"The Swing Voter's Curse,"
American Economic Review,
American Economic Association, vol. 86(3), pages 408-424, June.
- Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Oxford University Press, vol. 71(1), pages 165-191.
- Wit, Jorgen, 1998. "Rational Choice and the Condorcet Jury Theorem," Games and Economic Behavior, Elsevier, vol. 22(2), pages 364-376, February.
- Kfir Eliaz, 2002. "Fault Tolerant Implementation," Review of Economic Studies, Oxford University Press, vol. 69(3), pages 589-610.
- Ruth Ben-Yashar & Igal Milchtaich, 2007. "First and second best voting rules in committees," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 29(3), pages 453-486, October.
- Dixit, Avinash & Weibull, Jörgen, 2006. "Political Polarization," SSE/EFI Working Paper Series in Economics and Finance 655, Stockholm School of Economics, revised 12 Apr 2007.
- Job Swank & Otto H. Swank & Bauke Visser, 2008. "How Committees of Experts Interact with the Outside World: Some Theory, and Evidence from the FOMC," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 478-486, 04-05.
- Al-Najjar, Nabil I. & Smorodinsky, Rann, 2000. "Pivotal Players and the Characterization of Influence," Journal of Economic Theory, Elsevier, vol. 92(2), pages 318-342, June.
When requesting a correction, please mention this item's handle: RePEc:hhs:hastef:0692. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helena Lundin)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.