Preference Intensities in Repeated Collective Decision-Making

Moritz Drexl and Andreas Kleiner ()

VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order from Verein für Socialpolitik / German Economic Association

Abstract: We study decision rules for committees that repeatedly take a binary decision. Committee members are privately informed about their payoffs and monetary transfers are not feasible. In static environments, the only strategy-proof mechanisms are voting rules which are criticized for being inefficient as they do not condition on preference intensities. The dynamic structure of repeated decision-making allows for richer decision rules that overcome this inefficiency by making use of information on preference intensities. Nonetheless, we show that often simple voting is optimal for two-person committees. This holds for many prior type distributions and irrespective of the agents' patience.

JEL-codes: C61 D72 D82 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-cdm, nep-gth and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc13:79832

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