When Voters Like to be Right: An Analysis of the Condorcet Jury Theorem with Mixed Motives

Rune Midjord, Tomás Rodríguez Barraquer*, Justin Valasek

*Corresponding author af dette arbejde

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Abstrakt

We study the aggregation of private information through voting in committees where agents are rewarded based on both the correctness of the committee decision (instrumental payoffs) and the correctness of their vote (expressive payoffs). Surprisingly, we find that even when expressive payoffs are perfectly aligned with instrumental payoffs, expressive payoffs can prevent committees from aggregating private information, suggesting that committees will make better decisions if agents are not held individually responsible for the correctness of their vote. We show that this finding holds in situations with heterogeneous expressive payoffs and reputation payoffs that depend on the aggregate profile of votes.
OriginalsprogEngelsk
Artikelnummer105354
TidsskriftJournal of Economic Theory
Vol/bind198
Antal sider25
ISSN0022-0531
DOI
StatusUdgivet - dec. 2021

Emneord

  • Information aggregation
  • Voting
  • Expressive payoffs
  • Condorcet Jury Theorem

Citationsformater