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Voting with Interdependent Values: The Condorcet Winner

Author

Listed:
  • Alex Gershkov

    (Department of Economics, Hebrew University Jerusalem and School of Economics, University of Surrey)

  • Andreas Kleiner

    (Department of Economics, Arizona State University)

  • Benny Moldovanu

    (Department of Economics, University of Bonn)

  • Xianwen Shi

    (Department of Economics, University of Toronto)

Abstract

We generalize the standard, private values voting model with single-peaked preferences and incomplete information by introducing interdependent preferences. Our main results show how standard mechanisms that are outcome-equivalent and implement the Condorcet winner under complete information or under private values yield starkly different outcomes if values are interdependent. We also propose a new notion of Condorcet winner under incomplete information and interdependent preferences, and discuss its implementation. The new phenomena in this paper arise because diffrent voting rules (including dynamic ones) induce different processes of information aggregation and learning.

Suggested Citation

  • Alex Gershkov & Andreas Kleiner & Benny Moldovanu & Xianwen Shi, 2023. "Voting with Interdependent Values: The Condorcet Winner," ECONtribute Discussion Papers Series 243, University of Bonn and University of Cologne, Germany.
    • Handle: RePEc:ajk:ajkdps:243
    as

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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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