Artikel
A resurrection of the Condorcet Jury Theorem
This paper analyzes the optimal size of a deliberating committee where (i) there is no conflict of interest among individuals and (ii) information acquisition is costly. The committee members simultaneously decide whether to acquire information, and then make the ex-post efficient decision. The optimal committee size, k*, is shown to be bounded. The main result of this paper is that any arbitrarily large committee aggregates the decentralized information more efficiently than the committee of size k*-2. This result implies that oversized committees generate only small inefficiencies.
- Sprache
-
Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 4 ; Year: 2009 ; Issue: 2 ; Pages: 227-252 ; New York, NY: The Econometric Society
- Klassifikation
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Wirtschaft
Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
Criteria for Decision-Making under Risk and Uncertainty
- Thema
-
Voting
information aggregation
costly information
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Szentes, Balazs
Koriyama, Yukio
- Ereignis
-
Veröffentlichung
- (wer)
-
The Econometric Society
- (wo)
-
New York, NY
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Szentes, Balazs
- Koriyama, Yukio
- The Econometric Society
Entstanden
- 2009
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