Aggregate Accuracy under Majority Rule with Heterogeneous Cost Functions

We investigate an election model with costly accuracy improvement by allowing heterogeneity in the cost functions. We find that the aggregate accuracy in large elections is characterized by the average value of the inverse of the second derivative at zero information.

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Year of publication:	2006-07-21
Authors:	Kitahara, Minoru ; Sekiguchi, Yohei
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 4.2006, 25, p. 1-8
Publisher:	AccessEcon
Subject:	costly information acquisition

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Extent:	application/pdf
Type of publication:	Article
Classification:	D7 - Analysis of Collective Decision-Making ; D8 - Information and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010629526