Voting on tricky questions

Tomoya Tajika

Games and Economic Behavior, 2022, vol. 132, issue C, 380-389

Abstract: We study a common-value voting model, in which private signal is typically informative but may be unreliable. Reliability determines the precision and the meaning of voters' private signals. These private signals are negatively correlated between different reliabilities. Each voter also receives noisy signals about reliability itself. When the population is sufficiently large, a bad equilibrium exists, in which all voters ignore reliability signals. It is thus possible that, at equilibrium, the majority rule makes an incorrect decision with a probability close to one.

Keywords: Information aggregation; Inefficiency; Precision uncertainty; Strategic voting (search for similar items in EconPapers)
JEL-codes: C72 D72 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:132:y:2022:i:c:p:380-389

DOI: 10.1016/j.geb.2022.01.008

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