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faculty: "FEB" and publication year: "2011"
| Authors||G. Dari-Mattiacci, E.-S. Hendriks, M. Havinga|
|Title||A generalized jury theorem|
|Publisher||Amsterdam Center for Law & Economics, University of Amsterdam|
|Title series||Amsterdam Center for Law & Economics working paper|
|Faculty||Faculty of Economics and Business|
|Institute/dept.||FEB: Amsterdam Business School Research Institute (ABS-RI)|
|Abstract||The literature on information-aggregation based on the Condorcet Jury Theorem focuses on binary choices. By applying well-known statistical methods to this issue, we develop a framework of analysis capable of dealing with a broader set of choices, including choices over a continuum. We obtain two main results.|
First, we prove a Generalized Jury Theorem, including the Condorcet Jury Theorem as a special case. Second, we show that the Generalized Jury Theorem (rather than the Condorcet Jury Theorem) should be used to model the behavior of jurors, when jurors have a common goal and communicate before voting; the reason is that our framework allows for more efficient aggregation of information
than the traditional framework. Our findings are illustrated by means of concrete applications.
|Note||Also: Amsterdam Law School legal studies research paper no. 2011-39. - October 5, 2011.|
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