Xin Gao (Cambridge)
"Deliberating Endogenous Information in Committees"
Abstract: In a small committee, the members first decide whether to acquire information or not and then engage in a straw poll before voting. I show in a stylized model that unanimity rule is essentially as good as majority rule if the committee members' preferences are commonly known to be homogeneous or heterogeneous. However, if preferences are private information, the first-best equilibrium where every committee member acquires information and tells the truth can be achieved under majority rule but not under unanimity rule.
When: Monday 15th February 2021 - 1:00pm
Where: Zoom
Reading Group: Theory Workshop