Voting and Experimentation with Correlated Types

This note extends Strulovici (2010) to the case where voter types are correlated and/or ex ante heterogeneous. There are two voters and the risky action is taken according to the unanimity rule. Increasing correlation between the types of the two voters reduces the negative payoff externality that voters have on each other, thereby increases experimentation and efficiency. Moreover, it allows voters to learn from each other and, therefore, increases the speed of experimentation.