Let the experts decide? Asymmetric information, abstention, and coordination in standing committees

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

We examine abstention when voters in standing committees are asymmetrically informed and there are multiple pure-strategy equilibria – swing voters curse (SVC) equilibria where voters with low-quality information abstain and equilibria when all participants vote their information. When the asymmetry in information quality is large, we find that voting groups largely coordinate on the SVC equilibrium which is also Pareto optimal. However, we find that when the asymmetry in information quality is not large and the Pareto optimal equilibrium is for all to participate, significant numbers of voters with low-quality information abstain. Furthermore, we find that information asymmetry induces voters with low-quality information to coordinate on a non-equilibrium outcome. This suggests that coordination on “letting the experts” decide is a likely voting norm that sometimes validates SVC equilibrium predictions but other times does not.
OriginalsprogEngelsk
TidsskriftGames and Economic Behavior
Vol/bind72
Udgave nummer2
Sider (fra-til)485-509
Antal sider25
ISSN0899-8256
DOI
StatusUdgivet - 2011

Bibliografisk note

JEL classification: D71, D72, D81, D82

ID: 33515115