The invalidity of the Condorcet Jury Theorem under endogenous decisional skills

Ruth Ben-Yashar and Shmuel Nitzan

Economics of Governance, 2001, vol. 2, issue 3, 243-249

Abstract: The current note clarifies that Condorcet Jury Theorem cannot be generalized to the extended setting where individual decisional skills are not assumed to be exogenous parameters even when these skills are homogeneous. This is true when skills are determined endogenously either by a central planner or, in a decentralized strategic setting, by the decision makers themselves. Copyright Springer-Verlag Berlin Heidelberg 2001

Keywords: Key words: Condorcet Jury Theorem; Investment in human capital; Endogenous skills; JEL classification: D71 (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ecogov:v:2:y:2001:i:3:p:243-249

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