Voting Rights, Agenda Control and Information Aggregation

• 成果类型: Article
• 署名作者: Bouton, Laurent; Llorente-Saguer, Aniol; Mace, Antonin; Xefteris, Dimitrios
• 署名单位: Georgetown University; University of London; Queen Mary University London; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics; Universite PSL; Ecole Normale Superieure (ENS); University of Cyprus
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1093/jeea/jvae035
• 发表日期: 2024
• 页码: 2598-2647
• 关键词: share-one vote; one-person; rules; governance; ELECTIONS; BEHAVIOR; majority; pay; say

摘要

This paper examines the comparative properties of voting rules based on the richness of their ballot spaces, assuming a given distribution of voting rights. We focus on how well voting rules aggregate the information dispersed among voters. We consider how different voting rules affect both voters' decisions at the voting stage and the incentives of the agenda-setter, who decides whether to put the proposal to a vote. Without agenda-setter, the voting efficiency of rules is higher when their ballot space is richer. Moreover, full-information efficiency requires full divisibility of the votes. In the presence of an agenda-setter, we uncover a novel trade-off: in some cases, rules with high voting efficiency provide worse incentives to the agenda-setter to select good proposals. This negative effect can be large enough to wash out the higher voting efficiency of even the most efficient rules.