Majority voting with stochastic preferences: the whims of a committee are smaller than the whims of its members
We study the volatility of the policy chosen by a committee whose members have volatile preferences. It is smaller than if it was chosen by a single member, smaller the larger the size of the committee, and smaller the volatility of members' preferences.
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|Date of creation:||Sep 2006|
|Date of revision:|
|Publication status:||Published in: Constitutional Political Economy (2006) v.17 n° 3,p.207-216|
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