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Kerstin Gerling

1 September 2003
WORKING PAPER SERIES - No. 256
Information acquisition and decision making in committees: a survey
English
Details
Abstract
This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental evidence on these issues. Our analysis focuses on the optimal size, composition, and decision rules of committees. We discuss implications for the design of monetary policy committees.
JEL Code
D71 : Microeconomics→Analysis of Collective Decision-Making→Social Choice, Clubs, Committees, Associations
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy