G2TT
来源类型Discussion paper
规范类型论文
来源IDDP14101
DP14101 Brexit: Dynamic Voting with an Irreversible Option
Benny Moldovanu; Frank Rosar
发表日期2019-11-05
出版年2019
语种英语
摘要We analyze Brexit-like decisions in a polarized society. An electorate decides repeatedly be-tween a reversible alternative (REMAIN) and an irreversible alternative (LEAVE). We comparestrengths and weaknesses of several mechanisms that can be used in reality. Voting by super-majority dominates voting by simple majority. Decisions by simple majority and by a toosmall supermajority can perform very poorly under circumstances where it is socially optimalto never LEAVE, as they can exhibit equilibria where LEAVE is chosen very quickly. Mechanisms where LEAVE requires (super)majorities in two consecutive periods avoid this problemwithout relying on fine-tuning, but can lead to inefficient delays. If a final decision for eitheralternative requires winning by a certain margin, and if a new vote is triggered otherwise, bothproblems, choosing LEAVE too easily and inefficient delays, can oftenbe avoided.
主题Industrial Organization
关键词Dynamic voting Irreversible option Option value Supermajority rules
URLhttps://cepr.org/publications/dp14101
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/542988
推荐引用方式
GB/T 7714
Benny Moldovanu,Frank Rosar. DP14101 Brexit: Dynamic Voting with an Irreversible Option. 2019.
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