Showing 1 - 10 of 339
Some committees convene behind closed doors while others publicly discuss issues and make their decisions. This paper studies the role of open and closed committee decision making in presence of external influence. We show that restricting the information of interest groups may reduce the bias...
Persistent link: https://www.econbiz.de/10009635893
The literature on the behavior of the Bank of England's Monetary Policy Committee (MPC) has focused on static voting patterns. We find statistical support for a dynamic pattern using a panel reaction function to analyze MPC votes over the 1997-2008 period. We find that internal and external...
Persistent link: https://www.econbiz.de/10008675328
We analyse committees of voters who take a decision between two options as a two- stage process. In a discussion stage, voters share non-verifiable information about a private signal concerning what is the best option. In a voting stage, votes are cast and one of the options is implemented. We...
Persistent link: https://www.econbiz.de/10010734313
We analyse committees of voters who take a decision between two options as a two- stage process. In a discussion stage, voters share non-verifiable information about a private signal concerning what is the best option. In a voting stage, votes are cast and one of the options is implemented. We...
Persistent link: https://www.econbiz.de/10010862559
We study dominant strategy incentive compatible (DIC) and deterministic mechanisms in a social choice setting with several alternatives. The agents are privately informed about their preferences, and have single-crossing utility functions. Monetary transfers are not feasible. We use an...
Persistent link: https://www.econbiz.de/10010850110
The main purpose of this paper is to estimate the probability of casting a decisive vote for a class or random electorate models encompassing the celebrated IC and IAC models. The emphasis is on the impact of correlation across votes on the order of magnitude of this event. Our proof techniques...
Persistent link: https://www.econbiz.de/10010812653
In this paper, we clarify the relationship between influence/power measurement and utility measurement, the most popular two social objective criteria used when evaluating voting mechanisms. For one particular probabilistic model describing the preferences of the electorate, the so-called...
Persistent link: https://www.econbiz.de/10010812654
We analyze the voting behavior of a small committee that has to approve or reject a proposal whose return is uncertain. Members have heterogenous preferences: some members want to maximize the expected value while other members have a bias toward project approval and ignore their private...
Persistent link: https://www.econbiz.de/10008799961
A set of voters consults experts before voting over two alternatives. Experts observe private signals about the values of the alternatives and can reveal their information or conceal it, but cannot lie. We examine how disclosure and voting vary with preference biases, signal precision, and the...
Persistent link: https://www.econbiz.de/10010616897
The burgeoning literature on the use of sanctions to support the provision of public goods has largely neglected the use of formal or centralized sanctions. We let subjects playing a linear public goods game vote on the parameters of a formal sanction scheme capable of either resolving or...
Persistent link: https://www.econbiz.de/10010574271