This paper examines the pattern of change in turnout in elections and in the rate of voting of different socioeconomic groups in the US. It shows that while the changing education and income structure of the population and changes in laws and regulations that make it easier to register and to...

Controlling for proxy advisor recommendations in voting regressions leads to biased estimates of vote determinants. We develop a sequential learning model in which shareholders base their votes on all available information and the informed advisors’ recommendations to demonstrate that...

The essay explains how ranked-choice voting leads to election outcomes that better represent what voters want compared with first-past-the-post, the traditional American voting system. It also shows that there is an even better system: majority-rule

There is an ongoing debate about how proxy advisory firms affect corporate decisions. A major concern is that shareholders seeking to save costs use a proxy advisor's vote recommendation as substitute for own research, thereby reducing efficiency of shareholder decision-making. We show that the...

Voting errors occur when bad proposals pass (false positives) and good proposals fail (false negatives). We develop a structural empirical framework to study voting errors for shareholder proposals. Our estimates inform policy debates on proxy access and proxy advisor regulation. Just over 5% of...