Collective Mistakes: Intuition Aggregation for a Trick Question under Strategic Voting

Tomoya Tajika

No 674, Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: We consider a situation in which voters collectively answer a binary question. Each voter obtains an intuition about the answer to the question, but whether the question is intuitive or counterintuitive is not known to any voter. If each voter receives an independent signal on whether the question is intuitive or not, the majority rule under sincere voting correctly aggregates the intuitions with a large electorate; however, it is not an equilibrium. We show that in a unique pure-strategy equilibrium with a large electorate, majority voting makes an incorrect decision with a probability that can be sufficiently close to 1.

Keywords: Information aggregation; inefficiency; counterintuitive question; strategic voting (search for similar items in EconPapers)
JEL-codes: C72 D72 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2018-07
New Economics Papers: this item is included in nep-cdm, nep-gth, nep-mic and nep-pol
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hituec:674

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