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Size and distributional uncertainty, public information and the information paradox

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  • Hans Gersbach

    (UniversitÄt Heidelberg, Alfred-Weber-Institut, Grabengasse 14, D-69117 Heidelberg, Germany)

Abstract

In this paper we examine the strategic implications of collective acquisition of information in a committee or in a legislature. We show that the prospect of acquiring information can harm a majority even if information is only available by the support of a majority. Moreover, the model provides two results about incentives to acquire information. First, for policies with high distributional uncertainties, we expect that less information is acquired collectively by a committee than for other policies. Second, for policies that show only size uncertainty, our model predicts intense efforts to acquire information collectively.

Suggested Citation

  • Hans Gersbach, 2000. "Size and distributional uncertainty, public information and the information paradox," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 17(2), pages 241-246.
    • Handle: RePEc:spr:sochwe:v:17:y:2000:i:2:p:241-246
    Note: Received: 20 January 1997/Accepted: 15 February 1999
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    Cited by:

    1. Vidal, Jordi Blanes I & Möller, Marc, 2016. "Team adaptation," LSE Research Online Documents on Economics 66439, London School of Economics and Political Science, LSE Library.
    2. Binswanger, Johannes & Oechslin, Manuel, 2020. "Better statistics, better economic policies?," European Economic Review, Elsevier, vol. 130(C).
    3. Keith E. Schnakenberg, 2017. "The downsides of information transmission and voting," Public Choice, Springer, vol. 173(1), pages 43-59, October.
    4. Huber, Jurgen, 2007. "`J'-shaped returns to timing advantage in access to information - Experimental evidence and a tentative explanation," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2536-2572, August.

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