Politically Correct Information Adoption
This paper analyses the case when the political struggle not is channeled through policy choices, but through what information to adopt. The paper presents a simple model to analyze collective decisions of adopting new information when different parties' payoffs are contingent upon the new information. In equilibrium we demonstrate that the adopted information is biased towards “political correctness” rather than being informative (in the Blackwell sense). These results may be relevant when designing decision mechanisms for institutions that are to be keen on new information.
|Date of creation:||28 Jul 2000|
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- Lohmann, Susanne, 1994. "Information Aggregation through Costly Political Action," American Economic Review, American Economic Association, vol. 84(3), pages 518-30, June.
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qt37b169jt, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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- Kandori, Michihiro, 1992. "The Use of Information in Repeated Games with Imperfect Monitoring," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 581-93, July.
- Akerlof, George A & Dickens, William T, 1982. "The Economic Consequences of Cognitive Dissonance," American Economic Review, American Economic Association, vol. 72(3), pages 307-19, June.
- Wit, Jorgen, 1998. "Rational Choice and the Condorcet Jury Theorem," Games and Economic Behavior, Elsevier, vol. 22(2), pages 364-376, February.
- Bassan, Bruno & Scarsini, Marco, 1995. "On the value of information in multi-agent decision theory," Journal of Mathematical Economics, Elsevier, vol. 24(6), pages 557-576.
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