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The paper studies a voting scheme where members of a committee voting sequentially on a known series of binary proposals are each granted a single extra bonus vote to cast as desired - a streamlined version of Storable Votes. When the order of the agenda is exogenous, a simple sufficient...
Persistent link: https://www.econbiz.de/10005123593
Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature,...
Persistent link: https://www.econbiz.de/10005504341
majority, and the aggregate payoffs all match the theory. …
Persistent link: https://www.econbiz.de/10005656276
Democratic systems are built, with good reason, on majoritarian principles, but their legitimacy requires the protection of strongly held minority preferences. The challenge is to do so while treating every voter equally and preserving aggregate welfare. One possible solution is storable votes:...
Persistent link: https://www.econbiz.de/10005662342
the self-interest model nor with models that assume that all people behave fairly, but they can be explained by the theory …
Persistent link: https://www.econbiz.de/10005504775
This study explores the effect of several personal religion-related variables on social behaviour, using three paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a Spanish urban adult population (N=766) is employed. From...
Persistent link: https://www.econbiz.de/10011083371
Information asymmetries are important in theory but difficult to identify in practice. We estimate the presence and … importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology. We …
Persistent link: https://www.econbiz.de/10005497798
. This result is stronger for organized industries, which further supports the theory. The main theoretical insights and …
Persistent link: https://www.econbiz.de/10005136624
version. Technically, the paper is based on the very elegant theory about stochastic ordering of (normalized) spacings and …. Proschan (1966, 1975) in the framework of reliability theory. …
Persistent link: https://www.econbiz.de/10005114323
experiment with more than 6000 subjects, including a subsample of 267 consultants from an international consulting firm. We also …
Persistent link: https://www.econbiz.de/10005656329