IDEAS home Printed from https://ideas.repec.org/p/aoz/wpaper/272.html
   My bibliography  Save this paper

Juries and Information Aggregation in Dynamic Environments

Author

Listed:
  • Esteban Colla-De-Robertis

    (Universidad Panamericana)

Abstract

We study information aggregation through voting in dynamic environments. We show that the voting rule under which an informative vote is a Nash equilibrium entails a time-varying quota, which suggests that efficient information aggregation requires the use of time-varying voting rules. We also show that a time-invariant simple majority quota rule is asymptotically efficient, that is when the size of the committee tends to infinity. We discuss possible applications to the monitoring and managing of natural resources and the environment.

Suggested Citation

  • Esteban Colla-De-Robertis, 2023. "Juries and Information Aggregation in Dynamic Environments," Working Papers 272, Red Nacional de Investigadores en Economía (RedNIE).
    • Handle: RePEc:aoz:wpaper:272
    as

    Download full text from publisher

    File URL: https://rednie.eco.unc.edu.ar/files/DT/272.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ben-Yashar, Ruth C & Nitzan, Shmuel I, 1997. "The Optimal Decision Rule for Fixed-Size Committees in Dichotomous Choice Situations: The General Result," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(1), pages 175-186, February.
    2. Duggan, John & Martinelli, Cesar, 2001. "A Bayesian Model of Voting in Juries," Games and Economic Behavior, Elsevier, vol. 37(2), pages 259-294, November.
    3. Richard D. Smallwood & Edward J. Sondik, 1973. "The Optimal Control of Partially Observable Markov Processes over a Finite Horizon," Operations Research, INFORMS, vol. 21(5), pages 1071-1088, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ruth Ben-Yashar & Igal Milchtaich, 2003. "First and Second Best Voting Rules in Committees," Working Papers 2003-08, Bar-Ilan University, Department of Economics.
    2. Gerling, Kerstin & Gruner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth, 2005. "Information acquisition and decision making in committees: A survey," European Journal of Political Economy, Elsevier, vol. 21(3), pages 563-597, September.
    3. Turgay Ayer & Oguzhan Alagoz & Natasha K. Stout, 2012. "OR Forum---A POMDP Approach to Personalize Mammography Screening Decisions," Operations Research, INFORMS, vol. 60(5), pages 1019-1034, October.
    4. Meirowitz, Adam, 2005. "Deliberative Democracy or Market Democracy: Designing Institutions to Aggregate Preferences and Information," Papers 03-28-2005, Princeton University, Research Program in Political Economy.
    5. Gong, Linguo & Tang, Kwei, 1997. "Monitoring machine operations using on-line sensors," European Journal of Operational Research, Elsevier, vol. 96(3), pages 479-492, February.
    6. Givon, Moshe & Grosfeld-Nir, Abraham, 2008. "Using partially observed Markov processes to select optimal termination time of TV shows," Omega, Elsevier, vol. 36(3), pages 477-485, June.
    7. Makis, Viliam, 2009. "Multivariate Bayesian process control for a finite production run," European Journal of Operational Research, Elsevier, vol. 194(3), pages 795-806, May.
    8. Raphael Godefroy & Eduardo Perez‐Richet, 2013. "Choosing Choices: Agenda Selection With Uncertain Issues," Econometrica, Econometric Society, vol. 81(1), pages 221-253, January.
    9. Hyoungsik Noh, 2023. "Conservativeness in jury decision-making," Theory and Decision, Springer, vol. 95(1), pages 151-172, July.
    10. Ruth Ben-Yashar & Shmuel Nitzan, 2017. "Is diversity in capabilities desirable when adding decision makers?," Theory and Decision, Springer, vol. 82(3), pages 395-402, March.
    11. L M Maillart & T G Yeung & Z Gozde Icten, 2011. "Selecting test sensitivity and specificity parameters to optimally maintain a degrading system," Journal of Risk and Reliability, , vol. 225(2), pages 131-139, June.
    12. Chambers, Christopher P., 2008. "Consistent representative democracy," Games and Economic Behavior, Elsevier, vol. 62(2), pages 348-363, March.
    13. Berk, Jan Marc & Bierut, Beata K., 2011. "Communication in a monetary policy committee," European Journal of Political Economy, Elsevier, vol. 27(4), pages 791-801.
    14. Colla De-Robertis, Esteban, 2014. "Information aggregation for timing decision making," MPRA Paper 59836, University Library of Munich, Germany, revised 09 Nov 2014.
    15. Nan Zhang & Sen Tian & Le Li & Zhongbin Wang & Jun Zhang, 2023. "Maintenance analysis of a partial observable K-out-of-N system with load sharing units," Journal of Risk and Reliability, , vol. 237(4), pages 703-713, August.
    16. Williams, Byron K., 2009. "Markov decision processes in natural resources management: Observability and uncertainty," Ecological Modelling, Elsevier, vol. 220(6), pages 830-840.
    17. Youzong Xu, 2019. "Collective decision-making of voters with heterogeneous levels of rationality," Public Choice, Springer, vol. 178(1), pages 267-287, January.
    18. Stephen Hansen & Michael McMahon, 2016. "First Impressions Matter: Signalling as a Source of Policy Dynamics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(4), pages 1645-1672.
    19. Bozbay, İrem & Dietrich, Franz & Peters, Hans, 2014. "Judgment aggregation in search for the truth," Games and Economic Behavior, Elsevier, vol. 87(C), pages 571-590.
    20. Eyal Baharad & Jacob Goldberger & Moshe Koppel & Shmuel Nitzan, 2012. "Beyond Condorcet: optimal aggregation rules using voting records," Theory and Decision, Springer, vol. 72(1), pages 113-130, January.

    More about this item

    Keywords

    Condorcet Jury Theorem - Information aggregation - Partially Observable Markov Decision Processes - Management of natural resources - Environment;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aoz:wpaper:272. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Laura Inés D Amato (email available below). General contact details of provider: https://edirc.repec.org/data/redniar.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.