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Communication and voting in heterogeneous committees: An experimental study

Mark Le Quement and Isabel Marcin ()
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Isabel Marcin: Max Planck Institute for Research on Collective Goods

No 2016_05, Discussion Paper Series of the Max Planck Institute for Research on Collective Goods from Max Planck Institute for Research on Collective Goods

Abstract: We study experimentally the effectiveness of communication in common value committees exhibiting publicly known heterogeneous biases. We test models assuming respectively self-interested and strategic-, joint payoff-maximizing- and cognitively heterogeneous agents. These predict varying degrees of strategic communication. We use a 2 x 2 design varying the information protocol (communication vs exogenous public signals) and the group composition (heterogeneous vs homogeneous). Results are only consistent with the third model. Roughly 80% of (heuristic) subjects truth-tell and vote with the majority of announced signals. Remaining (sophisticated) agents lie strategically and approximately apply their optimal decision rule.

Keywords: Committees; Voting; Information Aggregation; Cheap Talk; Experiment (search for similar items in EconPapers)
JEL-codes: C92 D72 D82 D83 (search for similar items in EconPapers)
Date: 2016-03, Revised 2016-10
New Economics Papers: this item is included in nep-cdm, nep-exp, nep-pr~, nep-net and nep-pol
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