Publication Type
Working Paper
Version
publishedVersion
Publication Date
2-2003
Abstract
This paper studies collective decision making in the context of a project selection model. We derive the optimal decision architecture when marginal decision costs are present, and investigate the circumstances under which the hierarchy and polyarchy exist as optimal sequential architectures. Our analysis extends previous results on optimal committee 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
Industrial Organization
Research Areas
Applied Microeconomics
Volume
05-2003
First Page
1
Last Page
22
Publisher
SMU Economics and Statistics Working Paper Series, No. 05-2003
City or Country
Singapore
Citation
KOH, Winston T. H..
Optimal Sequential Decision Architectures and the Robustness of Hierarchies and Polyarchies. (2003). 05-2003, 1-22.
Available at: https://ink.library.smu.edu.sg/soe_research/680
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.
Comments
Published in Social Choice and Welfare, 2005, 24 (3), 397-411. https://doi.org/10.1007/s00355-003-0304-0