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Games and Economic Behavior
Article . 2019 . Peer-reviewed
License: Elsevier TDM
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Article . 2019
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SSRN Electronic Journal
Article . 2015 . Peer-reviewed
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Article . 2019
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Research . 2015
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EconStor
Research . 2017
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Voting with Public Information

Voting with public information
Authors: Liu, Shuo;

Voting with Public Information

Abstract

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 commonly-used simultaneous voting rules, while the intuitive but inefficient follow-the-expert strategy profile almost always does. Although more information may be aggregated if agents are able to coordinate on more sophisticated equilibria, inefficiency can persist even in large elections if the provision of public information introduces general correlation between the signals observed by the agents. We propose simple voting procedures that can indirectly implement the outcomes of the optimal ex post incentive compatible mechanisms with public information. Our voting procedures also have additional advantages when there is a concern for strategic disclosure of public information.

Country
Switzerland
Keywords

finance, Strategic voting, 2002 Economics and Econometrics, Strategic voting, collective decision-making, public information, committee design, optimal voting rule, information disclosure, ECON Department of Economics, D72, 10007 Department of Economics, making, optimal voting rule, collective decision, Voting theory, Informationsstruktur, Abstimmungssystem, strategic voting, ddc:330, Gruppenentscheidung, economics and econometrics, information disclosure, committee design, collective decision-making, 330 Economics, D82, 2003 Finance, public information, jel: jel:D82, jel: jel:D72

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    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
6
Average
Average
Average
bronze