The invalidity of the Condorcet Jury Theorem under endogenous decisional skills

The current note clarifies that Condorcet Jury Theorem cannot be generalized to the extended setting where individual decisional skills are not assumed to be exogenous parameters even when these skills are homogeneous. This is true when skills are determined endogenously either by a central planner or, in a decentralized strategic setting, by the decision makers themselves. Copyright Springer-Verlag Berlin Heidelberg 2001

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Year of publication:	2001
Authors:	Ben-Yashar, Ruth ; Nitzan, Shmuel
Published in:	Economics of Governance. - Springer. - Vol. 2.2001, 3, p. 243-249
Publisher:	Springer
Subject:	Condorcet Jury Theorem \| Investment in human capital \| Endogenous skills

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Type of publication:	Article
Classification:	D71 - Social Choice; Clubs; Committees; Associations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005184484