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Preference Intensities in Repeated Collective Decision-Making

  • Drexl, Moritz
  • Kleiner, Andreas
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    We study decision rules for committees that repeatedly take a binary decision. Committee members are privately informed about their payoffs and monetary transfers are not feasible. In static environments, the only strategy-proof mechanisms are voting rules which are criticized for being inefficient as they do not condition on preference intensities. The dynamic structure of repeated decision-making allows for richer decision rules that overcome this inefficiency by making use of information on preference intensities. Nonetheless, we show that often simple voting is optimal for two-person committees. This holds for many prior type distributions and irrespective of the agents' patience.

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    File URL: http://econstor.eu/bitstream/10419/79832/1/VfS_2013_pid_547.pdf
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    Paper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79832.

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    Date of creation: 2013
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    Handle: RePEc:zbw:vfsc13:79832
    Contact details of provider: Web page: http://www.socialpolitik.org/
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    1. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
    2. Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
    3. Casella, Alessandra, 2005. "Storable votes," Games and Economic Behavior, Elsevier, vol. 51(2), pages 391-419, May.
    4. Casella, Alessandra & Palfrey, Thomas & Riezman, Raymond, 2008. "Minorities and Storable Votes," Quarterly Journal of Political Science, now publishers, vol. 3(2), pages 165-200, July.
    5. Rafael Hortala-Vallve, 2007. "Qualitative Voting," Economics Series Working Papers 320, University of Oxford, Department of Economics.
    6. Dirk Bergemann & Juuso V‰lim‰ki, 2010. "The Dynamic Pivot Mechanism," Econometrica, Econometric Society, vol. 78(2), pages 771-789, 03.
    7. Alessandra Casella & Aniol Llorente-Saguer & Thomas R. Palfrey, 2010. "Competitive Equilibrium in Markets for Votes," Levine's Working Paper Archive 661465000000000143, David K. Levine.
    8. Rafael Hortala-Vallve, 2010. "Inefficiencies on linking decisions," Social Choice and Welfare, Springer, vol. 34(3), pages 471-486, March.
    9. Athey, Susan & Miller, David A., 2007. "Efficiency in repeated trade with hidden valuations," Theoretical Economics, Econometric Society, vol. 2(3), September.
    10. William Fuchs & Vinicius Carrasco, 2009. "From Equals to Despots: The Dynamics of Repeated Group Decision Taking with Private Information," 2009 Meeting Papers 150, Society for Economic Dynamics.
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