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This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.
Persistent link: https://www.econbiz.de/10014025183
Which decision rule should we use to make a binary collective choice? While voting procedures are applied ubiquitously … qualified majority voting. Our result shows that using a VCG mechanism is not superior to voting in general and justifies the … use of voting mechanisms. It thereby could explain why many decision rules employed in practice do not rely on monetary …
Persistent link: https://www.econbiz.de/10010342115
The average voting procedure reflects the weighted average of expressed opinions in [0,1]. Participants typically … taste is central enough, the range of possible values for the average voting outcome is narrower than the corresponding … range for majority voting. For instance, if the average taste is at 1/2, the limit equilibrium outcome is this value plus or …
Persistent link: https://www.econbiz.de/10009505651
We study communication in committees selecting one of two alternatives when consensus is required and agents have private information about their preferences. Delaying the decision is costly, so a form of multiplayer war of attrition emerges. Waiting allows voters to express the intensity of...
Persistent link: https://www.econbiz.de/10011872697
preferences (i.e. a 'voting rule')? And if so, which voting rule best describes their behavior? We show that a prominent neural … network can be trained to respect two fundamental principles of voting theory, the unanimity principle and the Pareto property … chooses, and find that among a number of popular voting rules its behavior mimics most closely the Borda rule. Indeed, the …
Persistent link: https://www.econbiz.de/10011558254
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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
We present a citizen-candidate model on a multidimensional policy space with lobbying, where citizens regard some issues more salient than others. We find that special interest groups that lobby on less salient topics move the implemented policy closer to their preferred policy, compared to the...
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