Search by Committee
This result would seem to imply that the more members on a committee the lower the average search duration. It turns out that this does not immediately follow, and in fact, the average search duration may increase as the committee grows in size. Thus, we cannot simply compare thresholds to determine the average search duration. Nevertheless we prove the following results about search durations holding the plurality rule constant: 1. the average search duration may rise or fall in committee size and 2. the average search duration is declining in committee size once the committee gets over a certain threshold size. In addition to such comparative statics, we consider the effect on average welfare of committee size and the vote aggregation rule.
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|Date of creation:||2007|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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References listed on IDEAS
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- Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Burdett, Kenneth, 1996. "Truncated means and variances," Economics Letters, Elsevier, vol. 52(3), pages 263-267, September.
- Timothy Feddersen & Wolfgang Pesendorfer, 1996. "Convicting the Innocent: The Inferiority of Unanimous Jury Verdicts," Discussion Papers 1170, Northwestern University, Center for Mathematical Studies in Economics and Management Science. Full references (including those not matched with items on IDEAS)
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