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Persistent link: https://www.econbiz.de/10011350127
We investigate experimentally the effects of corrupt experts on information aggregation in committees. We find that non-experts … are significantly less likely to delegate through abstention when there is a probability that experts are corrupt. Such … decreased abstention when the probability of corrupt experts is low, actually increases information efficiency in committee …
Persistent link: https://www.econbiz.de/10013047178
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high enough. We test the model's key predictions in a laboratory experiment varying the level of transparency between … than in theory. …
Persistent link: https://www.econbiz.de/10010486059
(regardless of accuracy). A simple lab experiment contradicts both hypotheses - subjects tend to follow public information when it …
Persistent link: https://www.econbiz.de/10012168608
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Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012866804
Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012868179
Persistent link: https://www.econbiz.de/10011535685
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...
Persistent link: https://www.econbiz.de/10011729095