Over-Caution of Large Committees of Experts

Over-caution of Large Committees of Experts

In this paper, we demonstrate that payoffs linked to a committee member’s individual vote may explain over-cautious behavior in committees. A committee of experts must decide whether to approve or reject a proposed innovation on behalf of society. In addition to a payoff linked to the adequateness of the committee’s decision, each expert receives a disesteem payoff if he/she voted in favor of a...

On Committees of Experts∗

We consider a committee that makes a decision on a project on behalf of ‘the public’. Members of the committee agree on the a priori value of the project, and hold additional private information about its consequences. They are experts who care both about the value of the project and about being considered well informed. Before voting on the project, members can exchange their private informati...

On the Optimal Size of Committees of Experts

What is the optimal size of expert committees? To address this question, I present a model of a committee of experts with career concerns. Each expert may observe an argument about the state of the world but be unsure about the argument’s soundness. Experts may remain silent or compete for the opportunity to announce an argument. I show that experts become more reluctant to speak in larger comm...

effect of sub-grid scales on large eddy simulation of particle deposition in a turbulent channel flow

چکیده ندارد.

Racing Committees for Large Datasets