Showing 1 - 10 of 43
Committee decision making is examined in this study focusing on the role assigned to the committee members. In particular, we are concerned about the comparison between committee performance under specialization and non-specialization of the decision makers.
Persistent link: https://www.econbiz.de/10010336005
This paper analyzes how to allocate experts into committees that use the unanimity rule to make decisions. We show that an optimal allocation of experts is extremely asymmetric. To reach the optimal allocation, therefore, one needs only to rank the experts in terms of their abilities and then...
Persistent link: https://www.econbiz.de/10011480442
This paper studies the assignment of decision makers to two committees that make decisions by a simple majority rule. There is an even number of decision makers at each of various skill levels and each committee has an odd number of members. Surprisingly, even with the symmetric assumptions in...
Persistent link: https://www.econbiz.de/10010277358
This paper derives a simple characterization of how to optimally divide an organization's experts into different decision-making committees. The focus is on many three-member committees that make decisions by a simple majority rule. We find that the allocation of experts to committees is optimal...
Persistent link: https://www.econbiz.de/10010333323
This paper derives a simple characterization of how to optimally divide an organization’s experts into different decision-making committees. The focus is on many three-member committees that make decisions by a simple majority rule. We find that the allocation of experts to committees is...
Persistent link: https://www.econbiz.de/10010352348
We consider a framework where the optimal decision rule determining the collective choice depends in a simple way on the decision makers' posterior probabilities of a particular state of nature. Nevertheless, voting is generally an inefficient way to make collective choices and this paper sheds...
Persistent link: https://www.econbiz.de/10010480812
We consider a framework where the optimal decision rule determining the collective choice depends in a simple way on the decision makers' posterior probabilities of a particular state of nature. Nevertheless, voting is generally an inefficient way to make collective choices and this paper sheds...
Persistent link: https://www.econbiz.de/10010481601
When a group of people with identical preferences but different abilities in identifying the best alternative (e.g., a jury) takes a vote to decide between two alternatives, the question of strategic voting arises. That is, depending on the voting rule used to determine the collective decision,...
Persistent link: https://www.econbiz.de/10013204726
A group of people with identical preferences but different abilities in identifying the best alternative (e.g., a jury) takes a vote to decide between two alternatives. The first best voting rule is a weighted voting rule that takes into account the different individual competences, and is...
Persistent link: https://www.econbiz.de/10013204738
This paper analyzes how to allocate experts into committees that use the unanimity rule to make decisions. We show that an optimal allocation of experts is extremely asymmetric. To reach the optimal allocation, therefore, one needs only to rank the experts in terms of their abilities and then...
Persistent link: https://www.econbiz.de/10011479393