Showing 1 - 10 of 41,951
Persistent link: https://www.econbiz.de/10011879116
Persistent link: https://www.econbiz.de/10011879111
Persistent link: https://www.econbiz.de/10011760759
Persistent link: https://www.econbiz.de/10002770896
Conflicts of interest arise between a decision maker and agents who have information pertinent to the problem because … of differences in their preferences over outcomes. We show how the decision maker can extract the information by …
Persistent link: https://www.econbiz.de/10014065852
Persistent link: https://www.econbiz.de/10012179485
A committee of experts votes between a multi-attribute alternative and status quo. Each expert is a biased specialist … compose the committee of more or less biased experts. We find that due to strategic voting, her optimal composition depends … non-monotonically on the majority rule. The composition is, however, less crucial if experts can be uninformed …
Persistent link: https://www.econbiz.de/10012117552
Complex and important policy decisions are often made with advice from a committee of experts, where experts first … convene and discuss, before finalizing their collective decision with a vote. We show that the voting structure (whether the … experts vote sequentially or simultaneously) plays a fundamental role in the nature of discussions, the independence of votes …
Persistent link: https://www.econbiz.de/10014344814
Which decision rule should we use to make a binary collective choice? While voting procedures are applied ubiquitously … imbalance. Is it optimal to do so? And why are monetary transfers used only rarely in public decision making? We solve for 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
We study decision rules for committees that repeatedly take a binary decision. Committee members are privately informed … structure of repeated decision-making allows for richer decision rules that overcome this inefficiency by making use of …
Persistent link: https://www.econbiz.de/10010341070