Publication Type
Journal Article
Version
submittedVersion
Publication Date
6-2005
Abstract
This paper studies collective decision making in the context of a project selection model. We derive the optimal decision architecture in the presence of marginal decision costs, and investigate the circumstances under which the hierarchy and polyarchy emerge as optimal sequential architectures. Our analysis extends previous results on optimal organizational decision-making to a sequential setting, and further demonstrates the fragility of the hierarchy and polyarchy as optimal architectures.
Keywords
optimal decision architecture, project selection, hierarchy, polyarchy
Discipline
Behavioral Economics | Industrial Organization
Research Areas
Applied Microeconomics
Publication
Social Choice and Welfare
Volume
24
Issue
3
First Page
397
Last Page
411
ISSN
0176-1714
Identifier
10.1007/s00355-003-0304-0
Publisher
Springer Verlag
Citation
KOH, Winston T. H..
Optimal Sequential Decision Architectures and the Robustness of Hierarchies and Polyarchies. (2005). Social Choice and Welfare. 24, (3), 397-411.
Available at: https://ink.library.smu.edu.sg/soe_research/202
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1007/s00355-003-0304-0