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Persistent link: https://www.econbiz.de/10010044567
We study a model in which voters choose between two candidates on the basis of both ideology and competence. While the ideology of the candidates is commonly known, voters are imperfectly informed about competence. Voter preferences, however, are such that it is a dominant strategy to vote...
Persistent link: https://www.econbiz.de/10014193571
We study a model in which two perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single...
Persistent link: https://www.econbiz.de/10014200999
We study strategic voting in a Condorcet type model in which voters have identical preferences but differential information. Voters incur private costs of going to the polls and may abstain if they wish; hence voting is voluntary. We show that under majority rule with voluntary voting, it is an...
Persistent link: https://www.econbiz.de/10014217504
We study a model in which perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single expert,...
Persistent link: https://www.econbiz.de/10014156378
Organizational theory suggests that authority should lie in the hands of those with information, yet the power to transfer authority is rarely absolute in practice. We investigate the validity and application of this advice in a model of optimal contracting between an uninformed principal and...
Persistent link: https://www.econbiz.de/10014067274
We study strategic voting in a Condorcet type model in which voters have identical preferences but differential information. Voters incur private costs of going to the polls and may abstain if they wish; hence voting is voluntary. We show that under majority rule with voluntary voting, it is an...
Persistent link: https://www.econbiz.de/10008542883
Persistent link: https://www.econbiz.de/10005159353
We study optimal contracting under imperfect commitment in a model with an uninformed principal and an informed agent. The principal can commit to pay the agent for his advice but retains decision-making authority. Under an optimal contract, the principal should (i) never induce the agent to...
Persistent link: https://www.econbiz.de/10005686511
We study a model in which perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single expert,...
Persistent link: https://www.econbiz.de/10005737566