The role of regional information in the optimal composition of a committee

Robert-Paul Berben, Beata Bierut () and Philipp Maier ()
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Beata Bierut: De Nederlandsche Bank

Economics Bulletin, 2012, vol. 32, issue 1, 510-517

Abstract: We analyse the optimal composition of a committee comprising members that have private information and represent constituencies of different economic sizes. ‘Proportional representation' - i.e. each constituency represented proportionally to its economic weight - seems intuitively appealing, but as we demonstrate, the optimal committee composition is more complex. We show that representation in a committee depends also on (i) the ‘intrinsic' uncertainty of the available data, (ii) constituency's degree of sectoral specialization, and (iii) the extent to which economic developments are correlated between constituencies.

Keywords: optimal composition of a committee; information uncertainty; regional representation; EMU enlargement; monetary institutions (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2012-02-06
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