ICES Experimental Economics Brown Bag Lecture

Collective Deliberation: An Experiment

Thursday, November 4, 2021 12:00 PM to 1:00 PM
Online Location, Zoom Meeting

ICES Experimental Economics Brown Bag Lecture

The Interdisciplinary Center for Economic Science (ICES) presents an ICES Brown Bag Lecture featuring:

Edgar Castro

George Mason University

(joint work with Mikhail Freer and César Martinelli)

Collective Deliberation: An Experiment

 

Please contact ICES Office Manager (sbahabib@gmu.edu) for Zoom link.

 

Abstract

We provide a model of deliberative collective choice. In this setting, players start endowed with private information (evidence) about the uncertain state of the world. Players' payoff depends on whether the collective choice matches the state of the world. The game consists of two stages: deliberation game and voting. An efficient outcome, in this case, is one where the collective choice is the same as one if all the evidence has been disclosed. We show that rational players always attain efficient outcomes in this game. However, if players are cursed efficiency cannot be guaranteed. Moreover, for the cursed players increasing the amount of information present may reduce the efficiency. We put these theoretical results to the test in the laboratory experiment.

 

For more information about the Brown Bag Lectures, please visit the Brown Bag Schedule homepage.

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