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 … dynamic version of a conclave. When social cost of waiting is taken into account, the dynamic conclave is superior in terms of …

A committee is choosing between two alternatives. If the required supermajority is not reached, voting is repeated …. If a supermajority is required instead, the power to select the outcome moves from the median voter to the more extreme … have very many almost indifferent voters and some very opinionated ones, the more stringent a supermajority is required for …