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Divided Majority and Information Aggregation: Theory and Experiment

Author

Listed:
  • Micael Castanheira De Moura
  • Laurent Bouton
  • A. Llorente-Saguer

Abstract

We propose a theory-based experimental approach to compare the properties of approval voting (AV) with thoseof plurality. This comparison is motivated by the theoretical prediction that, in our aggregate uncertainty setup,AV should produce close to first-best outcomes,while pluralitywill not. The experiment shows, first, thatwelfaregains are substantial. Second, both aggregate and individual responses are in line with theoretical predictions,and thus with strategic voting. Finally, subjects' behavior under AV highlights the need to study equilibria inasymmetric strategies.

Suggested Citation

  • Micael Castanheira De Moura & Laurent Bouton & A. Llorente-Saguer, 2016. "Divided Majority and Information Aggregation: Theory and Experiment," ULB Institutional Repository 2013/242105, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/242105
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General

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