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future majority excluding them. We compare the behavior in the lab of groups under majority rule and under the optimal voting … rule, which precludes voting in intermediate stages of the policy experiment. Surprisingly, simple majority performs better … than the (theoretically) optimal voting rule. Majority rule seems to be more robust than other forms of voting when players …
Persistent link: https://www.econbiz.de/10012929018
This paper surveys research of lab experiments on voting games, focusing on six areas that have received much attention … in the last few decades: (i) costly voting in elections with two alternatives; (ii) (other) collective action problems … the work reviewed. First, strategic behavior is pervasive in voting games, as opposed to naive or “sincere” behavior. That …
Persistent link: https://www.econbiz.de/10012929021
What is the place of political parties within a democratic system of political economy? Parties are often described as intermediaries that lubricate the political process by facilitating the matching of voter preferences with candidate positions. This line of analysis flows from a bi-planar...
Persistent link: https://www.econbiz.de/10012972069
Frank Knight famously remarked nearly a century ago that the primary problems that stem from societal living together do not arise because of what we don’t know but rather arise because of what we know that isn’t true. This paper pursues Knight’s theme by incorporating three elements into...
Persistent link: https://www.econbiz.de/10014106770
Nicholas Vriend (2002) asked whether F.A. Hayek was an “ace,” and answered affirmatively. By “ace,” Vriend meant someone who worked with agent-based modeling. To be sure, Hayek could not have worked with agent-based models because that platform did not exist when Hayek was developing his...
Persistent link: https://www.econbiz.de/10012911904
Self-governance of common pool resources is presumed to work well in small, homogeneous communities where interaction is repeated, agents have low discount rates, and information about past performance is available. It is presumed to work poorly elsewhere. This paper provides a case study of...
Persistent link: https://www.econbiz.de/10012955601
This paper uses Vincent Ostrom's treatment of government as entailing a Faustian bargain to explore some challenges that confront the research program he pursued in the theory of human association. To enable this exploration, I replace the standard resort to the law of the excluded middle with...
Persistent link: https://www.econbiz.de/10012962762
Philanthropy, and particularly ensuring that one's giving is effective, can require substantial time and effort. One way to reduce these costs, and thus encourage greater giving, could be to encourage delegation of giving decisions to better-informed others. At the same time, because it involves...
Persistent link: https://www.econbiz.de/10012983110
Educational institutions not only build human capital; they also shape culture. We present a model of cultural dynamics produced by cultural transmission through the education system. Groups that are culturally marginalized are also economically disadvantaged and exhibit various forms of...
Persistent link: https://www.econbiz.de/10014078281
The provision of public goods is often used to justify the state. Since many highly-valued goods such as education, national defense, roads, etc., possess some public characteristics (i.e. non-rivalry and non-excludability), standard theory predicts such goods will be underprovided by private...
Persistent link: https://www.econbiz.de/10014155448