IDEAS home Printed from https://ideas.repec.org/p/hit/hiasdp/hias-e-78.html
   My bibliography  Save this paper

Skill, Value and Remuneration in Committees

Author

Listed:
  • BEN-YASHAR, Ruth
  • NITZAN, Shmuel

Abstract

Relatively modest difference in individual decisional skills may warrant substantial inequality in personal remunerations. This implies that the return on investment in decisional skills may be very high. These claims are illustrated applying the uncertain dichotomous choice setting while clarifying the complex relationship between the individual skills, the individual optimal decisional weights and the skill-dependent values, i.e., the individual probabilities to be pivotal.

Suggested Citation

  • BEN-YASHAR, Ruth & NITZAN, Shmuel, 2018. "Skill, Value and Remuneration in Committees," Discussion paper series HIAS-E-78, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
  • Handle: RePEc:hit:hiasdp:hias-e-78
    as

    Download full text from publisher

    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/29662/070_hiasDP-E-78.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ben-Yashar, Ruth C & Nitzan, Shmuel I, 1997. "The Optimal Decision Rule for Fixed-Size Committees in Dichotomous Choice Situations: The General Result," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(1), pages 175-186, February.
    2. Franz Dietrich & Christian List, 2013. "Propositionwise judgment aggregation: the general case," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(4), pages 1067-1095, April.
    3. Lloyd Shapley & Bernard Grofman, 1984. "Optimizing group judgmental accuracy in the presence of interdependencies," Public Choice, Springer, vol. 43(3), pages 329-343, January.
    4. Nitzan, Shmuel & Paroush, Jacob, 1982. "Optimal Decision Rules in Uncertain Dichotomous Choice Situations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(2), pages 289-297, June.
    5. Austen-Smith, David & Banks, Jeffrey S., 1996. "Information Aggregation, Rationality, and the Condorcet Jury Theorem," American Political Science Review, Cambridge University Press, vol. 90(1), pages 34-45, March.
    6. Young, H. P., 1988. "Condorcet's Theory of Voting," American Political Science Review, Cambridge University Press, vol. 82(4), pages 1231-1244, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ruth Ben‐Yashar & Miriam Krausz & Shmuel Nitzan, 2018. "Government loan guarantees and the credit decision‐making structure," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(2), pages 607-625, May.
    2. Ben-Yashar, Ruth & Nitzan, Shmuel, 2019. "Skill, value and remuneration in committees," Economics Letters, Elsevier, vol. 174(C), pages 93-95.
    3. Eyal Baharad & Ruth Ben-Yashar, 2021. "Judgment Aggregation by a Boundedly Rational Decision-Maker," Group Decision and Negotiation, Springer, vol. 30(4), pages 903-914, August.
    4. Ruth Ben-Yashar & Shmuel Nitzan & Tomoya Tajika, 2021. "Skill, power and marginal contribution in committees," Journal of Theoretical Politics, , vol. 33(2), pages 225-235, April.
    5. Ruth Ben-Yashar & Shmuel Nitzan, 2017. "Is diversity in capabilities desirable when adding decision makers?," Theory and Decision, Springer, vol. 82(3), pages 395-402, March.
    6. Eyal Baharad & Jacob Goldberger & Moshe Koppel & Shmuel Nitzan, 2012. "Beyond Condorcet: optimal aggregation rules using voting records," Theory and Decision, Springer, vol. 72(1), pages 113-130, January.
    7. Ben-Yashar, Ruth & Danziger, Leif, 2011. "Symmetric and asymmetric committees," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 440-447.
    8. Ruth Ben-Yashar & Igal Milchtaich, 2003. "First and Second Best Voting Rules in Committees," Working Papers 2003-08, Bar-Ilan University, Department of Economics.
    9. Eyal Baharad & Ruth Ben-Yashar & Shmuel Nitzan, 2020. "Variable Competence and Collective Performance: Unanimity Versus Simple Majority Rule," Group Decision and Negotiation, Springer, vol. 29(1), pages 157-167, February.
    10. Shmuel Nitzan & Tomoya Tajika, 2022. "Inequality of decision-makers’ power and marginal contribution," Theory and Decision, Springer, vol. 92(2), pages 275-292, March.
    11. Ruth Ben-Yashar & Miriam Krausz & Shmuel Nitzan, 2018. "The effect of democratic decision-making on investment in reputation," Public Choice, Springer, vol. 177(1), pages 155-164, October.
    12. Ruth Ben-Yashar & Shmuel Nitzan, 2014. "On the significance of the prior of a correct decision in committees," Theory and Decision, Springer, vol. 76(3), pages 317-327, March.
    13. BAHARAD, Eyal & BEN-YASHAR, Ruth & NITZAN, Shmuel, 2018. "Variable Competence and Collective Performance: Unanimity vs. Simple Majority Rule," Discussion paper series HIAS-E-80, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    14. Ruth Ben-Yashar & Leif Danziger, 2015. "When is voting optimal?," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 341-356, October.
    15. BEN-YASHAR, Ruth & NITZAN, Shmuel, 2016. "Is Diversity in Capabilities Desirable When Adding Decision Makers?," Discussion paper series HIAS-E-21, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    16. BEN-YASHAR, Ruth & KRAUSZ, Miriam & NITZAN, Shmuel, 2017. "The Effect of Democratic Decision Making on Investment in Reputation," Discussion paper series HIAS-E-59, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    17. Ben-Yashar, Ruth & Khuller, Samir & Kraus, Sarit, 2001. "Optimal collective dichotomous choice under partial order constraints," Mathematical Social Sciences, Elsevier, vol. 41(3), pages 349-364, May.
    18. Ruth Ben-Yashar, 2006. "Information is important to Condorcet jurors," Public Choice, Springer, vol. 127(3), pages 305-319, June.
    19. Xiaohong Yu & Zhaoyang Sun, 2022. "The company they keep: When and why Chinese judges engage in collegiality," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(4), pages 936-1002, December.
    20. Baharad, Eyal & Ben-Yashar, Ruth & Patal, Tal, 2020. "On the merit of non-specialization in the context of majority voting," Journal of Mathematical Economics, Elsevier, vol. 87(C), pages 128-133.

    More about this item

    Keywords

    decisional skills; optimal decisional weights; skill-dependent power; remuneration;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hit:hiasdp:hias-e-78. 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: . General contact details of provider: https://edirc.repec.org/data/ashitjp.html .

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Digital Resources Section, Hitotsubashi University Library (email available below). General contact details of provider: https://edirc.repec.org/data/ashitjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.