Flamand, Sabine; Troumpounis, Orestis - In: Public Choice 159 (2014) 1, pp. 53-62
Meetings of shareholders, societies, and clubs often require a minimal participation quorum. In the absence of a quorum, no valid decisions can be made; thus, decisions are postponed to a later meeting. This paper examines the effect of such quorum constraints on both individual behavior and...