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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/10011288420
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy … market for votes generates welfare losses, relative to simple majority voting, if the committee is large enough or the …
Persistent link: https://www.econbiz.de/10010286692
have different, privately observed intensities of preferences and before voting can buy or sell votes among themselves for …
Persistent link: https://www.econbiz.de/10011084134
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy … and the market generates welfare losses, relative to simple majority voting, if the committee is large enough. We test the …
Persistent link: https://www.econbiz.de/10008534095
referendum, because voting may facilitate coordination due to signaling and commitment effects. We find that voting does have …
Persistent link: https://www.econbiz.de/10010625733
We show theoretical and experimental results that demonstrate the potential of transparency to influence committee decision making and deliberation. We present a model in which committee members have career concerns and unanimity is needed to change the status quo. We study three scenarios -...
Persistent link: https://www.econbiz.de/10010486059
We study experimentally the effectiveness of communication in common value committees exhibiting publicly known heterogeneous biases. We test models assuming respectively self-interested and strategic-, joint payoff-maximizing- and cognitively heterogeneous agents. These predict varying degrees...
Persistent link: https://www.econbiz.de/10011444227
A conclave is a voting mechanism in which a committee selects an alternative by voting until a sufficient supermajority … conclave leads to efficiency gains relative to simple majority voting. We also compare welfare properties of a static versus a …
Persistent link: https://www.econbiz.de/10011336977
more often than simple majority. In a series of laboratory experiments, we investigate how various rules affect the outcome …
Persistent link: https://www.econbiz.de/10011872697
We distinguish between (i) voting systems in which voters can rank candidates and (ii) those in which they can grade … candidates, such as approval voting, in which voters can give two grades—approve (1) or not approve (0)—to candidates. While two …
Persistent link: https://www.econbiz.de/10011212580