Title

Optimal Sequential Decision Architectures and the Robustness of Hierarchies and Polyarchies

Publication Type

Journal Article

Publication Date

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.

Discipline

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

Additional URL

http://dx.doi.org/10.1007/s00355-003-0304-0

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