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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Voting with public information
Organization Unit
  • Shuo Liu
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 191
ISSN 1664-7041
Number of Pages 46
Date 2017
Abstract Text We study the effect of public information on collective decision-making in committees, where members can have both common and conflicting interests. In the presence of public information, the simple and efficient vote-your-signal strategy profile no longer constitutes an equilibrium under the commonly-used simultaneous voting rules, while the intuitive but inefficient follow-the-expert strategy profile almost always does. Although more information may be aggregated if agents are able to coordinate on more sophisticated equilibria, inefficiency can persist even in large elections if the provision of public information introduces general correlation between the signals observed by the agents. We propose simple voting procedures that can indirectly implement the outcomes of optimal anonymous and ex post incentive compatible mechanisms with public information. The proposed voting procedures also have additional advantages when there is a concern for strategic disclosure of public information.
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Keywords Strategic voting, collective decision-making, public information, committee design, optimal voting rule, information disclosure, Abstimmungssystem, Gruppenentscheidung, Informationsstruktur
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