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We develop a simple model of collective experimentation and take it to the lab. In equilibrium, as in the recent work of Strulovici (2010), majority rule has a bias toward under experimentation, as good news for a minority of voters may lead a majority of voters to abandon a policy when each of...
Persistent link: https://www.econbiz.de/10012925711
Persistent link: https://www.econbiz.de/10011819027
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We develop a simple model of collective experimentation and take it to the lab. In equilibrium, as in the recent work of Strulovici (2010), majority rule has a bias toward under-experimentation, as good news for a minority of voters may lead a majority of voters to abandon a policy when each of...
Persistent link: https://www.econbiz.de/10012929018