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Information Aggregation in Stratified Societies

Author

Listed:
  • Marina Agranov
  • Ran Eilat
  • Konstantin Sonin

Abstract

We analyze a model of political competition in which the elite forms endogenously to aggregate information and advise the uninformed median voter which candidate to choose. The median voter knows whether or not the endorsed candidate is biased toward the elites, but might still prefer the biased candidate if the elite’s endorsement provides sufficient information about her competence. The elite size and the degree of information aggregation by the elite depend on the extent to which the median voter follows the elite’s advice. A higher cost of redistribution minimizes the elite’s information advantage, hinders information transmission, and decreases the expected competence of the elected politician.

Suggested Citation

  • Marina Agranov & Ran Eilat & Konstantin Sonin, 2023. "Information Aggregation in Stratified Societies," NBER Working Papers 31510, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:31510
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    Cited by:

    1. Gabriele Gratton & Barton E. Lee, 2023. "Drain the Swamp: A Theory of Anti-Elite Populism," Discussion Papers 2023-02, School of Economics, The University of New South Wales.
    2. Emmanuelle Auriol & Nicolas Bonneton & Mattias Polborn, 2023. "Shaking Up the System: When Populism Disciplines Elite Politicians," CRC TR 224 Discussion Paper Series crctr224_2023_473, University of Bonn and University of Mannheim, Germany.

    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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