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The main criticism to the aggregation of individual preferences under majority rules refers to the possibility of reaching inconsistent collective decisions from the election process. In these cases, the collective preference includes cycles and even could prevent the election of any alternative...
Persistent link: https://www.econbiz.de/10013010416
Before a group can take a decision, its members must agree on a mechanism to aggregate individual preferences. In this paper we present the results of an experiment on the influence of private payoff information and the role of the available alternatives on individuals' mechanism choices in such...
Persistent link: https://www.econbiz.de/10012964326
Before a group can take a decision, its members must agree on a mechanism to aggregate individual preferences. In this paper we present the results of an experiment on the influence of private payoff information and the role of the available alternatives on individuals’ mechanism choices in...
Persistent link: https://www.econbiz.de/10011570166
We conduct an experiment in which groups are tasked with evaluating the truth of a set of politically relevant facts and statements, and we investigate whether communication improves information aggregation and the accuracy of group decisions. Our findings suggest that the effect of...
Persistent link: https://www.econbiz.de/10014495051
Liquid Democracy is a voting system touted as the golden medium between representative and direct democracy: decisions are taken by referendum, but voters can delegate their votes as they wish. The outcome can be superior to simple majority voting, but even when experts are correctly identified,...
Persistent link: https://www.econbiz.de/10014264131
We propose a two-period model of a committee with sequentially voting members, who may differ in their degree of efficiency. In this model we examine whether the publication of the committee's voting records is desirable. We show that first-period welfare is higher if voting records remain...
Persistent link: https://www.econbiz.de/10014051614
We conduct an experiment to investigate (i) whether rotation in voting increases a committee's efficiency, and (ii) the extent to which rotation critically influences collective and individual welfare. The experiment is based on the idea that voters have to trade-off individual versus common...
Persistent link: https://www.econbiz.de/10014058994
This paper introduces excluding outlier voters (EOV) as a general mechanism for revealing true preferences in social choices, and for discouraging voters from strategic voting and manipula-tion. This mechanism is general in that it can be implemented with any voting system. The paper...
Persistent link: https://www.econbiz.de/10013241763
Early results on the emptiness of the core and the majority-rule-chaos results led to the recognition of the importance of modeling institutional details in political processes. A sample of the literature on game-theoretic models of political phenomena that ensued is presented. In the case of...
Persistent link: https://www.econbiz.de/10014024486
A vote-buying mechanism is such that each agent buys a quantity of votes x to cast for an alternative of her choosing, at a cost c(x), and the outcome is determined by the total number of votes cast for each alternative. In the context of binary decisions, we prove that the choice rules that can...
Persistent link: https://www.econbiz.de/10012925208