Information acquisition & decisions in committees

This ECB Working Paper is a survey of the recent game theoretic literature on committee decision making. It considers theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Recent experimental evidence on these issues is reviewed. The analysis focuses on the optimal size, composition, and decision rules of committees and discusses implications for the design of monetary policy committees.

ECB

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