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Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012866804
Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012868179
We study the effect of public information on collective decision-making in committees, where members can have both common and conflicting interests. In the presence of public information, the simple and efficient vote-your-signal strategy profile no longer constitutes an equilibrium under the...
Persistent link: https://www.econbiz.de/10011729095
This paper analyzes responsibility attributions for outcomes of collective decision making processes. In particular, we ask if decision makers are blamed for being pivotal if they implement an unpopular outcome in a sequential voting process. We conduct an experimental voting game in which...
Persistent link: https://www.econbiz.de/10010243444
high enough. We test the model's key predictions in a laboratory experiment varying the level of transparency between … than in theory. …
Persistent link: https://www.econbiz.de/10010486059
We study experimentally the effectiveness of communication in common value committees exhibiting publicly known heterogeneous biases. We test models assuming respectively self-interested and strategic, joint payoff-maximizing and cognitively heterogeneous agents. These predict varying degrees of...
Persistent link: https://www.econbiz.de/10012995161
When groups face difficult problems, the voice of experts may be lost in the noise of others' contributions. We present … such a degree that it is in fact optimal for all non-experts to contribute their bits of information. A single individual …
Persistent link: https://www.econbiz.de/10012257743
When groups face difficult problems, the voices of experts may be lost in the noise of others' contributions. We …
Persistent link: https://www.econbiz.de/10012432144