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neural responses to the pertinent prospects when they are not engaged in actual decision making. The ability to make such …
Persistent link: https://www.econbiz.de/10012459390
observable exogenous causes. We explore an alternative approach that generates predictions based on relationships across decision … experiment, we find that this method yields accurate estimates of price sensitivities for a collection of products under …
Persistent link: https://www.econbiz.de/10012459391
This paper studies the effect of foreign aid on economic stabilization. Following Alesina and Drazen (1991), we model the delay in stabilizing as the result of a distributional struggle: reforms are postponed because they are costly and each distributional faction hopes to reduce its share of...
Persistent link: https://www.econbiz.de/10012474234
's turnout relative to the majority, and the minority's share of seats won. A lab experiment based on a costly voting design …
Persistent link: https://www.econbiz.de/10012510552
experiment, face-to-face communication with a randomly assigned peer significantly improves the quality of private decisions … transmits financial decision-making skills most effectively when peers are equally uninformed, rather than when an informed … decision maker teaches an uninformed peer. Qualitative analysis of subjects' discussions supports this interpretation. The …
Persistent link: https://www.econbiz.de/10012480687
versus equal outcomes). In a laboratory experiment, the most common behavioral pattern is for subjects to select the ex ante …
Persistent link: https://www.econbiz.de/10012480908
the theory in a lab experiment where two subjects negotiate how to share a resource; in case of conflict, the subjects …
Persistent link: https://www.econbiz.de/10012482356
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of Ex Ante Vote-Trading Equilibrium, identify weak sufficient conditions for existence, and construct one such...
Persistent link: https://www.econbiz.de/10012462342
Democratic systems are built, with good reason, on majoritarian principles, but their legitimacy requires the protection of strongly held minority preferences. The challenge is to do so while treating every voter equally and preserving aggregate welfare. One possible solution is <i>Storable Votes</i>:...
Persistent link: https://www.econbiz.de/10012464542
In polarized committees, majority voting disenfranchises the minority. Allowing voters to spend freely a fixed budget of votes over multiple issues restores some minority power. However, it also creates a complex strategic scenario: a hide-and-seek game between majority and minority voters that...
Persistent link: https://www.econbiz.de/10012456444