Aggregate Accuracy under Majority Rule with Heterogeneous Cost Functions
Minoru Kitahara () and
Yohei Sekiguchi ()
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Yohei Sekiguchi: Graduate School of Economics, University of Tokyo
Economics Bulletin, 2006, vol. 4, issue 25, 1-8
We investigate an election model with costly accuracy improvement by allowing heterogeneity in the cost functions. We find that the aggregate accuracy in large elections is characterized by the average value of the inverse of the second derivative at zero information.
Keywords: costly; information; acquisition (search for similar items in EconPapers)
JEL-codes: D7 D8 (search for similar items in EconPapers)
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