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Cited 14 time in webofscience Cited 0 time in scopus
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Collective Proofreading and the Optimal Voting Rule

Authors
Kim, DG[Kim, Duk Gyoo]Lee, J[Lee, Jinhyuk]Shin, E[Shin, Euncheol]
Issue Date
2-Jan-2022
Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Keywords
Collective decision; optimal proofreading; optimal voting rule; qualified majority rule; representative agent
Citation
GLOBAL ECONOMIC REVIEW, v.51, no.1, pp.1 - 17
Indexed
SSCI
SCOPUS
KCI
OTHER
Journal Title
GLOBAL ECONOMIC REVIEW
Volume
51
Number
1
Start Page
1
End Page
17
URI
https://scholarworks.bwise.kr/skku/handle/2021.sw.skku/95559
DOI
10.1080/1226508X.2022.2040379
ISSN
1226-508X
Abstract
Policy decisions often involve a repeated proofreading process before implementation. We present a dynamic model of proofreading decisions by a heterogeneous committee before implementing a risky policy. The proofreading process is necessary because the risky policy contains an unknown number of errors. Proofreading continues as long as a qualified majority votes for continuation. Once the proofreading process ends, and the policy is implemented, members receive heterogeneous penalties based on the remaining errors. We characterize the optimal voting rule given the costs and penalties for the committee. We find that any qualified voting rule, including majority rule, for proofreading is inefficient.
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Economics > Department of Economics > 1. Journal Articles

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