Predicting Committee Action
Success of a policy often requires both that a good policy be adopted, and that the public or firms correctly anticipate what policy government will adopt. This paper models a relation between committee size and the effectiveness of policy, with a focus on how the accuracy of the public’s expectations varies with the size of the governmental committee setting policy. The paper also argues that the demand for access by special interest groups may arise not from a desire to influence policy, but from a desire to learn about government’s likely actions.
|Date of creation:||Feb 2006|
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- Ehrmann, Michael & Fratzscher, Marcel, 2005. "Communication and decision-making by central bank committees: different strategies, same effectiveness?," Working Paper Series 0488, European Central Bank.
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"Information acquisition and decision making in committees: A survey,"
European Journal of Political Economy,
Elsevier, vol. 21(3), pages 563-597, September.
- Kiel, Alexandra & Gerling, Kerstin & Schulte, Elisabeth & Grüner, Hans Peter, 2003. "Information acquisition and decision making in committees: a survey," Working Paper Series 0256, European Central Bank.
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- Nicola Persico, 2004. "Committee Design with Endogenous Information," Review of Economic Studies, Oxford University Press, vol. 71(1), pages 165-191.
- Rasmusen, Eric, 1993. "Lobbying When the Decisionmaker Can Acquire Independent Information," Public Choice, Springer, vol. 77(4), pages 899-913, December.
- Alan S. Blinder & John Morgan, 2000.
"Are Two Heads Better Than One?: An Experimental Analysis of Group vs. Individual Decisionmaking,"
NBER Working Papers
7909, National Bureau of Economic Research, Inc.
- Alan S. Blinder & John Morgan, 2001. "Are Two Heads Better Than One?: An Experimental Analysis of Group vs. Individual Decisionmaking," Working Papers 130, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Ehrmann, Michael & Fratzscher, Marcel, 2005.
"Transparency, disclosure and the federal reserve,"
Working Paper Series
0457, European Central Bank.
- Michael Ehrmann & Marcel Fratzscher, 2007. "Communication by Central Bank Committee Members: Different Strategies, Same Effectiveness?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(2-3), pages 509-541, 03.
- Donald L. Kohn & Brian P. Sack, 2003. "Central bank talk: does it matter and why?," Finance and Economics Discussion Series 2003-55, Board of Governors of the Federal Reserve System (U.S.).
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