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Information Aggregation with Runoff Voting

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  • Nikolas Tsakas
  • Dimitrios Xefteris

Abstract

A majority of independent voters wants to choose the alternative that better matches the state of the world, but may disagree on its identity due to private information. When we have an arbitrary number of alternatives and also sophisticated partisan voters exist in the electorate, the election of the correct alternative is a real challenge. Building upon McLennan (1998) and Barelli et al. (2017) we show that runoff voting -one of the most intuitive electoral systems- achieves asymptotically full information equivalence. That is, when the society is large, it can lead to the election of the correct alternative under fairly general assumptions regarding the information structure and partisans' preferences.

Suggested Citation

  • Nikolas Tsakas & Dimitrios Xefteris, 2019. "Information Aggregation with Runoff Voting," University of Cyprus Working Papers in Economics 09-2019, University of Cyprus Department of Economics.
  • Handle: RePEc:ucy:cypeua:09-2019
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    References listed on IDEAS

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    1. Tsakas, Nikolas & Xefteris, Dimitrios, 2021. "Stress-testing the runoff rule in the laboratory," Games and Economic Behavior, Elsevier, vol. 128(C), pages 18-38.

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    More about this item

    Keywords

    runoff voting; information aggregation; partisan voters; Condorcet jury theorem;
    All these keywords.

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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