The current note clarifies why, in committees, the prior probability of a correct collective choice might be of particular significance and possibly should sometimes even be the sole appropriate basis for making the collective decision. In particular, we present sufficient conditions for the...

This paper compares the determination of investment criteria in single- and multi-member organizations. Individual decisional skills are assumed to be endogenous variables that depend on the investment criteria. Our main result specifies the condition that determines the relationship between the...

In this note we study the robustness of optimal organizational architectures, focusing on hierarchies and polyarchies. These two specific architectures are often applied in economic systems and have received considerable attention in the literature. It turns out that the application of these...

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...

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.

This paper studies expectations formation and forecasting of vehicle demand in Singapore under the vehicle quota system. Under the system, a car buyer must first bid for a vehicle license in monthly auctions in order to purchase a new car. We construct an econometric model to test the hypothesis...

In government procurement auctions, discrimination in favor of one group of participants (e.g. domestic firms, minority bidders) over another group is a common practice. The optimal discriminatory rules for these auctions are typically non-linear and could be administratively complex and costly...