Balduzzi, Paolo; Graziano, Clara; Luporini, Annalisa - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2011
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...