Chakravarty, Surajeet and Kaplan, Todd R (2010): Vote or Shout.
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We examine an environment with n voters each with a private value over two alternatives. We compare the social surplus of two mechanisms for deciding between them: majority voting and shouting. In majority voting, the choice with the most votes wins. With shouting, the voter who shouts the loudest (sends the costliest wasteful signal) chooses the outcome. We find that it is optimal to use voting in the case where n is large and value for each particular alternative of the voters is bounded. For other cases, the superior mechanism is depends upon the order statistics of the distribution of values.
|Item Type:||MPRA Paper|
|Original Title:||Vote or Shout|
|Keywords:||majority voting, voting procedures, social efficiency|
|Subjects:||C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C70 - General
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
|Depositing User:||Todd R Kaplan|
|Date Deposited:||19. Apr 2010 06:47|
|Last Modified:||21. Feb 2013 06:38|
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