publication . Article . 2009

Viewpoint: Decision-making in committees

Li Hao; Wing Suen;
Open Access
  • Published: 01 Jan 2009 Journal: Canadian Journal of Economics, volume 42, issue 2 May, pages 359-392
This article reviews recent developments in the theory of committee decision-making. A committee consists of self-interested members who make a public decision by aggregating imperfect information dispersed among them according to a pre-specified decision rule. We focus on costly information acquisition, strategic information aggregation, and rules and processes that enhance the quality of the committee decision. Seeming inefficiencies of the committee decision-making process such as over-cautiousness, voting, and delay emerge as partial remedies to these incentive problems.
free text keywords: jel:D71, jel:D82
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