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Viewpoint: Decision‐making in committees

Author

Listed:
  • Li Hao
  • Wing Suen
Abstract
This article reviews recent developments in the theory of committee decision‐making. A committee consists of self‐interested members who 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. Cet article passé en revue certains développements récents dans la théorie de la prise de décision en comité. Un comité est défini comme un groupe de membres qui ont des intérêts particuliers et qui prennent une décision publique en agrégeant une information imparfaite et dispersée à travers le groupe selon une règle de decision pré‐établie. Les auteurs portent leur attention sur l’acquisition coûteuse d’information, l’agrégation de l’information stratégique, et les règles et procédures qui accroîssent la qualité de la decision en comité. Ce qui apparaît comme des inefficacités du processus de prise de décision en comité (sur‐précaution, votes, délais) s’avère être des remèdes partiels aux problèmes d’incitation.

Suggested Citation

  • Li Hao & Wing Suen, 2009. "Viewpoint: Decision‐making in committees," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 42(2), pages 359-392, May.
    • Handle: RePEc:wly:canjec:v:42:y:2009:i:2:p:359-392
    DOI: 10.1111/j.1540-5982.2009.01512.x
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    More about this item

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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