Majority voting with stochastic preferences: the whims of a committee are smaller than the whims of its members
Pierre-Guillaume Méon
No 06-05.RS, DULBEA Working Papers from ULB -- Universite Libre de Bruxelles
Abstract:
This note studies the volatility of the policy chosen by a committee whose members’ preferences are volatile, due to common and individual preferences shocks. It is shown that majority voting mitigates the latter but not the former. The volatility of the policy is smaller the smaller the volatility of members’ preferences, smaller the larger the size of the committee, and smaller than if it was chosen by a single member. The results hold in a context of uncertainty and with multidimensional issues.
Keywords: committee; majority voting; uncertainty; volatility (search for similar items in EconPapers)
JEL-codes: D71 (search for similar items in EconPapers)
Pages: 12 p.
Date: 2006-04
New Economics Papers: this item is included in nep-cba, nep-cdm and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)
Published by: DULBEA - Université libre de Bruxelles, Bruxelles
Downloads: (external link)
https://dipot.ulb.ac.be/dspace/bitstream/2013/8434/1/pgm-0041.pdf pgm-0041 (application/pdf)
Related works:
Journal Article: Majority voting with stochastic preferences: The whims of a committee are smaller than the whims of its members (2006) 
Working Paper: Majority voting with stochastic preferences: the whims of a committee are smaller than the whims of its members (2006)
Working Paper: Majority voting with stochastic preferences: The whims of a committee are smaller than the whims of its members (2004) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:dul:wpaper:06-05rs
Ordering information: This working paper can be ordered from
http://hdl.handle.ne ... .ulb.ac.be:2013/8434
Access Statistics for this paper
More papers in DULBEA Working Papers from ULB -- Universite Libre de Bruxelles Contact information at EDIRC.
Bibliographic data for series maintained by Benoit Pauwels ().