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Intertemporal conflicts occur when a group of agents with heterogeneous time preferences must make a collective decision about how to manage a common asset. How should this be done? We examine two methods: an 'Economics' approach that seeks to implement efficient allocations, and a 'Politics'...
Persistent link: https://www.econbiz.de/10012457961
Intertemporal conflicts occur when a group of agents with heterogeneous time preferences must make a collective decision about how to manage a common asset. How should this be done? We examine two methods: an 'Economics' approach that seeks to implement efficient allocations, and a 'Politics'...
Persistent link: https://www.econbiz.de/10013043608
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, discuss the difficulties with dynamic voting procedures and review some ways to overcome them. We conclude by highlighting the …
Persistent link: https://www.econbiz.de/10012546897
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distribution with independent marginals then, under weak conditions, voting on the original issues is not optimal. If the marginals … are identical (but not necessarily independent), then voting first on the total sum and next on the differences is often … welfare superior to voting on the original issues. We also provide various lower bounds on incentive efficiency: in particular …
Persistent link: https://www.econbiz.de/10012022742
We conduct an experiment in which groups are tasked with evaluating the truth of a set of politically relevant facts and statements, and we investigate whether communication improves information aggregation and the accuracy of group decisions. Our findings suggest that the effect of...
Persistent link: https://www.econbiz.de/10014495051