Voting as a Lottery
Voting is a lottery in which an individual who is uncertain about how the others vote wins if she belongs to the majority or loses if she falls into the minority. The risk of losing can be reduced by increasing the majority threshold. This however has the negative effect of also lowering the chance to win. We find that an individual prefers higher majority thresholds when she is more risk averse, less powerful,or less optimistic about the chance that others will vote like her. Defacto, raising the majority threshold is a form of protection against the higher risk of being tyrannized by an unfavorable majority. We include these preferences for majority thresholds in a Nash bargaining game that describes constitutional negotiations over voting rules. Individuals that largely avert the risk of being tyrannized behave reluctantly during negotiations, and succeed in getting higher protection through a threshold raise.
|Date of creation:||May 2007|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.isla.unibocconi.it/
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.:
- Buchanan, James M & Faith, Roger L, 1980. "Subjective Elements in Rawlsian Contractual Agreement on Distributional Rules," Economic Inquiry, Western Economic Association International, vol. 18(1), pages 23-38, January.
- Philippe Aghion & Alberto Alesina & Francesco Trebbi, 2002.
"Endogenous Political Institutions,"
NBER Working Papers
9006, National Bureau of Economic Research, Inc.
- Aghion, Philippe & Alesina, Alberto F & Trebbi, Francesco, 2002. "Endogenous Political Institutions," CEPR Discussion Papers 3473, C.E.P.R. Discussion Papers.
- Aghion, Philippe & Alesina, Alberto & Trebbi, Francesco, 2004. "Endogenous Political Institutions," Scholarly Articles 4481498, Harvard University Department of Economics.
- Philippe Aghion & Albero Alesina & Francesco Trebbi, 2002. "Endogenous Political Institutions," Harvard Institute of Economic Research Working Papers 1957, Harvard - Institute of Economic Research.
- Salvador Barberà & Matthew O. Jackson, 2003.
"On the Weights of Nations: Assigning Voting Weights in a Heterogeneous Union,"
220, Barcelona Graduate School of Economics.
- Salvador Barbera & Matthew O. Jackson, 2006. "On the Weights of Nations: Assigning Voting Weights in a Heterogeneous Union," Journal of Political Economy, University of Chicago Press, vol. 114(2), pages 317-339, April.
- Salvador BARBER?Author-Email: email@example.com & Matthew O. JACKSON, 2003. "On the Weights of Nations: Assigning Voting Weights in a Heterogenous Union," UFAE and IAE Working Papers 597.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Salvador Barbera & Matthew O. Jackson, 2004. "On the Weights of Nations: Assigning Voting Weights in a Heterogeneous Union," Working Papers 2004.76, Fondazione Eni Enrico Mattei.
- Barbera, Salvador & Matthew O. Jackson, 2004. "On the Weights of Nations: Assigning Voting Weights in a Heterogeneous Union," Working Papers 1196, California Institute of Technology, Division of the Humanities and Social Sciences.
- Matthias Messner & Mattias K. Polborn, 2004.
"Voting on Majority Rules,"
Review of Economic Studies,
Wiley Blackwell, vol. 71(1), pages 115-132, 01.
- Thomas Zorn & Dolores Martin, 1986. "Optimism and pessimism in political and market institutions," Public Choice, Springer, vol. 49(2), pages 165-178, January.
- Marco Mariotti, 1998. "Nash bargaining theory when the number of alternatives can be finite," Social Choice and Welfare, Springer, vol. 15(3), pages 413-421.
- Marco Mariotti, 1998.
"Fair Bargains: Distributive Justice and Nash Bargaining Theory,"
Royal Holloway, University of London: Discussion Papers in Economics
98/16, Department of Economics, Royal Holloway University of London, revised Feb 1998.
- Mariotti, Marco, 1999. "Fair Bargains: Distributive Justice and Nash Bargaining Theory," Review of Economic Studies, Wiley Blackwell, vol. 66(3), pages 733-41, July.
- Benoit, Jean-Pierre & Kornhauser, Lewis A., 2002. "Game-theoretic analysis of legal rules and institutions," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 60, pages 2229-2269 Elsevier.
- Paul Schure & Francesco Passerelli & David Scoones, 2007. "When the Powerful Drag Their Feet," Department Discussion Papers 0703, Department of Economics, University of Victoria.
- Partha Dasgupta & Eric Maskin, 2008. "On The Robustness of Majority Rule," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 949-973, 09.
- Buchanan, James M & Faith, Roger L, 1981. "Entrepreneurship and the Internalization of Externalities," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 95-111, April.
- Mueller, Dennis C, 1973. "Constitutional Democracy and Social Welfare," The Quarterly Journal of Economics, MIT Press, vol. 87(1), pages 60-80, February.
- Harrington, Joseph E, Jr, 1990. " The Role of Risk Preferences in Bargaining When Acceptance of a Proposal Requires Less than Unanimous Approval," Journal of Risk and Uncertainty, Springer, vol. 3(2), pages 135-54, June.
- Vincenzo Denicolò & Marco Mariotti, 2000. "Nash Bargaining Theory, Nonconvex Problems and Social Welfare Orderings," Theory and Decision, Springer, vol. 48(4), pages 351-358, June.
- Enriqueta Aragonés & Andrew Postlewaite, 1999. "Ambiguity in election games," Economics Working Papers 364, Department of Economics and Business, Universitat Pompeu Fabra.
- James M. Snyder Jr. & Michael M. Ting & Stephen Ansolabehere, 2005. "Legislative Bargaining under Weighted Voting," American Economic Review, American Economic Association, vol. 95(4), pages 981-1004, September.
- 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 289-97, June.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
When requesting a correction, please mention this item's handle: RePEc:slp:islawp:islawp28. 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: (Stefano Riela)
If references are entirely missing, you can add them using this form.