2021年5月
Information Use and the Condorcet Jury Theorem
Mathematics
- 巻
- 9
- 号
- 10
- 開始ページ
- 1098
- 終了ページ
- 記述言語
- 英語
- 掲載種別
- DOI
- 10.3390/math9101098
Using a simple model of a coordination game, this paper explores how the information use of individuals affects an optimal committee size. Although enlarging the committee promotes information aggregation, it also stimulates the members’ coordination motive and distorts their voting behavior through higher-order beliefs. On the determination of a finite optimal committee size, the direction and degree of strategic interactions matter. When the strategic complementarity among members is strong, a finite optimal committee size exists. In contrast, it does not exist under strategic substitution. This mechanism is applied to the design of monetary policy committees in a New Keynesian model in which a committee conducts monetary policy under imperfect information.
- リンク情報
-
- DOI
- https://doi.org/10.3390/math9101098 本文へのリンクあり
- 共同研究・競争的資金等の研究課題
- 政策担当者のインセンティブと金融政策委員会のデザイン
- URL
- https://www.mdpi.com/2227-7390/9/10/1098 本文へのリンクあり
- ID情報
-
- DOI : 10.3390/math9101098