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Social, economic, and organizational development require a degree of stable policy making. The instability of group decision making under majority rule has preoccupied social theorists since Condorcet in the late 18th century. In theory, subtle institutional modifications to pure majority rule...
Persistent link: https://www.econbiz.de/10014033664
Social and economic development requires some degree of stable policy making. The instability of group decision making under majority rule ahs preoccupied social theorists since Condorcet. In theory, subtle institutional modifications to pure majority rule should induce stability. This paper...
Persistent link: https://www.econbiz.de/10014207079
Persistent link: https://www.econbiz.de/10013476851
Can bureaucracies respond to threats marked by both potentially high costs and fundamental uncertainty? Standard guidelines such as maximizing expected value to the society over a period of time may be ineffective; yet, state action is often most demanded for such situations. I argue that the...
Persistent link: https://www.econbiz.de/10014064533