Midjord, Rune; Barraquer, Tomás Rodríguez; Valasek, … - CESifo - 2014
behalf of society. In addition to a payoff linked to the adequateness of the committee’s decision, each expert receives a … disesteem payoff if he/she voted in favor of an ill-fated innovation. An example is FDA committees, where committee members can … standard voting model, we show that information is aggregated in large committees provided disesteem payoffs are not overly …