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We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular, they have different discount factors for utility, possibly not exponential. We characterize the properties of efficient allocations of resources and of shadow prices that would...
Persistent link: https://www.econbiz.de/10011507695
, discuss the difficulties with dynamic voting procedures and review some ways to overcome them. We conclude by highlighting the …
Persistent link: https://www.econbiz.de/10012546897
I investigate minority votes in the German Council of Economic Experts. The dataset contains information on the voting … behavior of the council members over the period 1971-2011. The results show that the best predictor of minority voting is being … against the majority opinion of the German Council of Economic Experts. This voting pattern indicates that the channel of …
Persistent link: https://www.econbiz.de/10009732996
There are many situations in which different groups make collective decisions by committee voting, where each group is … represented by a single person. Theoretical concepts suggest how the voting systems in such committees should be designed, but … these abstract rules can usually not be implemented perfectly. To find voting systems that approximate these rules the so …
Persistent link: https://www.econbiz.de/10010240053
There are many situations in which different groups make collective decisions by committee voting, with each group … represented by a single person. A natural question is what voting system such a committee should use. Concepts based on voting … the choice of voting systems based on such theoretical concepts, in this paper, I ask which systems individuals actually …
Persistent link: https://www.econbiz.de/10010337025
We compiled data on all United Nations General Assembly resolutions on which voting took place between January 1990 and … model of behavioral political economy that includes decoy voting, vanity of autocrats, and a Schelling focal point for …
Persistent link: https://www.econbiz.de/10010422167
Persistent link: https://www.econbiz.de/10012693082
the majority increased by one percentage point, the likelihood of voting in favour of same-sex marriage decreased by …
Persistent link: https://www.econbiz.de/10011742931
Many important intertemporal decisions, such as investments of firms or households, are made by groups rather than individuals. Little is known what happens to such collective decisions when group members have different incentives for waiting, because the economics literature on group decision...
Persistent link: https://www.econbiz.de/10012029172
This paper studies the assignment of decision makers to two committees that make decisions by a simple majority rule. There is an even number of decision makers at each of various skill levels and each committee has an odd number of members. Surprisingly, even with the symmetric assumptions in...
Persistent link: https://www.econbiz.de/10009162101