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Opinion Pooling under Asymmetric Information

Dietrich, Franz - EconWPA - 2004

investigate this question in case that the individual probability functions are based on different information sets. Under … any overlaps between different persons' information sets. The solutions are derived from an axiomatic system that models … parameter-free, and that they incorporate each individual's information although the individuals need not communicate their …

Persistent link: https://www.econbiz.de/10005412461

Committees, hierarchies and polyarchies

Sah, Raaj Kumar - 2012

This paper examines optimal decision making under three different organizational forms: committees, hierarchies and polyarchies. Our focus is on the trade-off between errors of rejecting good projects versus errors of accepting bad projects, and on the trade-off between gains from more extensive...

Persistent link: https://www.econbiz.de/10013106320

Organizational Decision-Making and Information : Angel Investments by Venture Capital Partners

Wu, Andy - 2016

We study information aggregation in organizational decision-making for the financing of entrepreneurial ventures. We … introduce a formal model of voting where agents face costly tacit information to improve their decision quality. Equilibrium … outcomes suggest a theoretical tension for group decision-making between the benefits of information aggregation and a cost …

Persistent link: https://www.econbiz.de/10013003716

Consistent Collective Decisions Under Majorities Based on Difference of Votes

Diss, Mostapha - 2015

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

Risking Your Life Without a Second Thought : Intuitive Decision-Making and Extreme Altruism

Rand, David G.; Epstein, Ziv - 2014

When faced with the chance to help someone in mortal danger, what is our first response? Do we leap into action, only later considering the risks to ourselves? Or must instinctive self-preservation be overcome by will-power in order to act? We investigate this question by examining the testimony...

Persistent link: https://www.econbiz.de/10014146581

The Human Version of Moore-Shannon's Theorem : The Design of Reliable Economic Systems

Christensen, Michael; Knudsen, Thorbjorn - 2007

Moore & Shannon's theorem is the cornerstone in reliability theory, but cannot be applied to human systems in its original form. A generalization to human systems would therefore be of considerable interest because the choice of organization structure can remedy reliability problems that...

Persistent link: https://www.econbiz.de/10014049389

Cooperation and Decision Time

Evans, Anthony; Rand, David G. - 2018

We review two fundamentally different ways that decision time is related to cooperation. First, studies have experimentally manipulated decision time to understand how cooperation is related to the use of intuition versus deliberation. Current evidence supports the claim that time pressure (and,...

Persistent link: https://www.econbiz.de/10014113978

Social Setting, Intuition, and Experience in Laboratory Experiments Interact to Shape Cooperative Decision-Making

Capraro, Valerio - 2015

Recent studies suggest that cooperative decision-making in one-shot interactions is a history-dependent dynamic process: promoting intuition versus deliberation has typically a positive effect on cooperation (dynamism) among people living in a cooperative setting and with no previous experience...

Persistent link: https://www.econbiz.de/10013028985

Social Decision Rules Are Not Immune to Conflict.

Esteban, J.; Ray, D. - El Instituto de Estudios Economicos de Galicia Pedro … - 1999

In this short paper, we ask the following question: Why is lobbying so endemic in societies? Put another way, might it not be possible to design a social decision rule that assigns to each group its equilibrium probability of success, and sidestep the inefficient waste of resources that results...

Persistent link: https://www.econbiz.de/10005776879

The Optimal Timing of Procecurement Decisions and Patent Allocations.

Perry, M.; Vincent, D.R. - University of Western Ontario, Department of Economics - 1996

We illustrate by means of a dynamic research and development race that, while at some points in the race, social incentives and private incentives may coincide, at other points they may diverge-- too many researchers remain that race.

Persistent link: https://www.econbiz.de/10005812632

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