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Existing theoretical and experimental studies have established that unanimity is a poor decision rule for promoting information aggregation. Despite this, unanimity is frequently used in committees making decisions on behalf of society. This paper shows that when committee members are exposed to...
Persistent link: https://www.econbiz.de/10011696383
We conduct an experiment in which groups are tasked with evaluating the truth of a set of politically relevant facts and statements, and we investigate whether communication improves information aggregation and the accuracy of group decisions. Our findings suggest that the effect of...
Persistent link: https://www.econbiz.de/10014495051
We evaluate the degree of gradualism and inaction in UK monetary policy over the Monetary Policy Committee (MPC) period (1997-2007) at the quarterly and the monthly frequency. After accounting for misspecification in standard Taylor rules, we find little evidence for gradualism. A measure of...
Persistent link: https://www.econbiz.de/10003642073
The common use of majority rule in group decision making is puzzling. In theory, it inequitably favors the proposer …
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Under simple majority voting an absolute majority of voters may choose policies that are harmful to minorities. It is the purpose of sub- and super-majority rules to protect legitimate minority interests. We study how voting rules are chosen under the veil of ignorance and whether there are...
Persistent link: https://www.econbiz.de/10014476824
We study the causal effect of the possibility to vote on foreigners propensity to naturalize, a key indicator of successful integration. Based on Swedish administrative data and an institutional setting producing a quasi-random assignment of the eligibility to vote, we find that the overall...
Persistent link: https://www.econbiz.de/10012299792
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