6. Experiments in Political Economy

“…We used numerical methods (a search algorithm) to verify that no other equilibria exist for treatment 1. 5 For more details on our search algorithm, please refer to the Appendix A.…”

Section: Voter Behaviormentioning

confidence: 99%

“…Those can be calculated using the formulas from the Appendix B. We only need to consider a few to see that voting for A was not necessarily a good choice: piv AB a = 0.0135, 5 In this type of a voting game, it is always an equilibrium for all types to vote for the same alternative. Those are typically called unresponsive equilibria.…”

Section: Treatmentsmentioning

confidence: 99%

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Voting in Three-Alternative Committees: An Experiment

Goertz

Chernomaz

2019

Games

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We design an experiment to test how voters vote in a small committee election with three alternatives. Voters have common preferences that depend on an unknown state of nature. Each voter receives an imprecise private signal prior to the election and then casts a vote. The alternative with the most votes wins. We fix the number of voters in our experiment to be five and focus on differences in the information structure (prior and signal distributions). We test three different treatments (different prior and signal distributions) that pose different challenges for the voters. In one, simply voting for one’s signal is an equilibrium. In the other two, it is not. Despite the different levels of complexity for the voters, they come relatively close to the predicted strategies (that sometimes involve mixing). As a consequence, the efficiency of the decision is also relatively high and comes close to predicted levels. In one variation of the experiment, we calculate posterior beliefs for the subjects and post them. In another, we do not. Interestingly, the important findings do not change.

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“…This Feature focuses on experiments in political economy. The term political economy has a number of diverse meanings that can be confusing as noted by Palfrey (forthcoming). For some, political economics means something close to Marxist thought, whereas others think of it as the effects of politics on the economy and perhaps just even macroeconomics, generally.…”

mentioning

confidence: 99%

Political Economy Experiments: Introduction

Morton

2014

The Economic Journal

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6. Experiments in Political Economy

Cited by 32 publications

References 193 publications

Legislative bargaining with teams

Legislative bargaining with teams

Voting in Three-Alternative Committees: An Experiment

Political Economy Experiments: Introduction

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