Efficient voting with penalties
Games and Economic Behavior, 2017, vol. 104, issue C, 468-485
Simple majority does not reflect the intensity of voters' preferences. This paper presents an efficient collective choice mechanism with two alternatives when the designer may use non-transferable punishments to persuade agents to reveal their private information. The designer faces a dilemma – a punishment may induce a more correct choice, but its cost is socially wasteful. The efficient mechanism is a weighted majority. Weight of each individual is known ex ante and no punishments are applied if preferences are relatively homogeneous. Eliciting types through punishments in order to construct type-specific weights should occur if preference intensity is relatively heterogeneous.
Keywords: Voting; Mechanism design (search for similar items in EconPapers)
JEL-codes: D71 D82 (search for similar items in EconPapers)
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