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This paper reports results from a laboratory experiment studying the role of asymmetries, both in payoffs and recognition probabilities, in a model of strategic bargaining with Condorcet cycles. Overall, we find only limited support for the equilibrium predictions. The main deviations from...
Persistent link: https://www.econbiz.de/10010532580
of the project and about being considered well informed. Before voting on the project, members can exchange their private … committees to show a united front. These results hold irrespective of whether information can be manipulated or not. Also … those of the member casting the decisive vote. Our last result is that the optimal voting rule balances the quality of …
Persistent link: https://www.econbiz.de/10011343285
Some committees are made up of experts, persons interested in both the (subject) matter at hand and in coming across as … able decision-makers. Such committees would like to conceal disagreement from the public. We present a theory that …
Persistent link: https://www.econbiz.de/10011349202
Theory predicts that committees of experts may take decisions that look good but are bad and that they show a united … front to impress evaluators. Although evaluators see through this behavior, committees persist in it only to avoid worse … of committees, words speak louder than costly decisions. Evaluators pick this up. Orthogonality tests show that …
Persistent link: https://www.econbiz.de/10011895939
represented by a single person. Theoretical concepts suggest how the voting systems in such committees should be designed, but …There are many situations in which different groups make collective decisions by committee voting, where each group is … 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 develop a tractable theory to study the impact of biased media on election outcomes, voter turnout and welfare. News released by media allows voters to infer the relative appeal of the two candidates, and the closeness of elections. In large elections, the former determines the election...
Persistent link: https://www.econbiz.de/10012030647
Most monetary policy committees decide on interest rates using a simple majority voting rule. Given the inherent … heterogeneity of committee members, this voting rule is suboptimal in terms of the quality of the interest rate decision, but … majority voting rule. …
Persistent link: https://www.econbiz.de/10011342577
This paper is concerned with the role of committees in collective decision-makingprocesses in a world where agents must … be motivated to collect information. Committees improvethe quality of decision-making by providing information and by …
Persistent link: https://www.econbiz.de/10011332816
This paper is the first to examine the effect of minimum price guaranteesin a sequential search model. Minimum price guarantees are notadvertised and only known to consumers when they come to the shop.We show that in such an environment, minimum price guarantees increasethe value of buying the...
Persistent link: https://www.econbiz.de/10011379207