Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071765 | Games and Economic Behavior | 2013 | 23 Pages |
Abstract
This paper presents a strategic model of common value elections with endogenous information acquisition. It proves that majoritarian elections can fail to aggregate information when voters have heterogeneous skills and provides necessary and sufficient conditions for information aggregation. Inefficiencies can be partially corrected by limiting participation to the most competent citizens, a result which provides a rational foundation for epistocratic government.
Keywords
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Economics and Econometrics
Authors
Matteo Triossi,