Decision-making in Committees

نویسنده

  • Wing Suen
چکیده

This article reviews recent developments in the theory of committee decisionmaking. A committee consists of self-interested members that make a public decision by aggregating imperfect information dispersed among them according to a pre-specified decision rule. We focus on costly information acquisition, strategic information aggregation, and rules and processes that enhance the quality of the committee decision. Seeming inefficiencies of the committee decision-making process such as over-cautiousness, voting, and delay emerge as partial remedies to these incentive problems. JEL classification: D71, D82 Corresponding author: Li, Hao, 150 St. George Street, University of Toronto, Toronto, Ontario M5S 3G7. Email: [email protected]. Phone: 1-416-978-1970

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تاریخ انتشار 2009