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Efficient Search by Committee
Bergemann, Dirk; Valimaki, Juuso - Cowles Foundation for Research in Economics, Yale University - 2011
This note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard...
Persistent link: https://www.econbiz.de/10008800354
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I'll See It When I Believe It - A Simple Model of Cognitive Consistency
Yariv, Leeat - Cowles Foundation for Research in Economics, Yale University - 2002
Psychological experiments demonstrate that people exhibit a taste for consistency. Individuals are inclined to interpret new evidence in ways that confirm their pre-existing beliefs. They also tend to change their beliefs to enhance the desirability of their past actions. I present a model that...
Persistent link: https://www.econbiz.de/10005463891
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Optimal Electoral Timing: Exercise Wisely and You May Live Longer
Keppo, Jussi; Smith, Lones; Davydov, Dmitry - Cowles Foundation for Research in Economics, Yale University - 2006
In many democratic countries, the timing of elections is flexible. We explore this potentially valuable option using insights from option pricing in finance. The paper offers three main contributions on this problem. First, we derive a rationally-based mean-reverting political support process...
Persistent link: https://www.econbiz.de/10005463899
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Financing of Public Goods through Taxation in a General Equilibrium Economy: Theory and Experimental Evidence
Huber, Juergen; Shubik, Martin; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011
rate of taxation is determined by voting. Starting conditions play only a minor role for outcomes of the economies, as …
Persistent link: https://www.econbiz.de/10009352219
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Meritocracy Voting: Measuring the Unmeasurable
Phillips, Peter C.B. - Cowles Foundation for Research in Economics, Yale University - 2011
effects, invisible college coalition voting and inner sanctum bias. The rule considered here is designed to assist the …
Persistent link: https://www.econbiz.de/10009358885
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Financing of Public Goods through Taxation in a General Equilibrium Economy: Experimental Evidence
Huber, Juergen; Shubik, Martin; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011
contributions or taxation, 23 out of 24 voting decisions favor taxation. Taxation appears to be superior on grounds of both long run …
Persistent link: https://www.econbiz.de/10010686937
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Voting by Committees
Barbera, Salvador; Sonnenschein, Hugo; Zhou, Lin - Cowles Foundation for Research in Economics, Yale University - 1990
. The voters must choose a subset of K. We define a class of voting schemes called voting by committees. The main result of … the paper is a characterization of voting by committees, which is the class of all voting schemes that satisfy voter … Groves and Clarke scheme in that it characterizes all of the non-manipulable voting schemes on an important domain. …
Persistent link: https://www.econbiz.de/10005762679
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Aggregation and Social Choice: A Mean Voter Theorem
Caplin, Andrew; Nalebuff, Barry - Cowles Foundation for Research in Economics, Yale University - 1990
A celebrated result of Black (1984a) demonstrates the existence of a simple majority winner when preferences are single-peaked. The social choice follows the preferences of the median voter's most preferred outcome beats any alternative. However, this conclusion does not extend to elections in...
Persistent link: https://www.econbiz.de/10005593158
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Lexicographic Composition of Simple Games
O'Neill, Barry; Peleg, Bezalel - Cowles Foundation for Research in Economics, Yale University - 2006
A two-house legislature can often be modelled as a proper simple game whose outcome depends on whether a coalition wins, blocks or loses in two smaller proper simple games. It is shown that there are exactly five ways to combine the smaller games into a larger one. This paper focuses on one of...
Persistent link: https://www.econbiz.de/10005087366
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Mediation and Peace
Horner, Johannes; Morelli, Massimo; Squintani, Francesco - Cowles Foundation for Research in Economics, Yale University - 2010
This paper brings mechanism design to the study of conflict resolution in international relations. We determine when and how unmediated communication and mediation reduce the ex ante probability of conflict, in a simple game where conflict is due to asymmetric information. Unmediated...
Persistent link: https://www.econbiz.de/10008511591