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MORIMOTO KEIICHI
Department Undergraduate School , School of Political Science and Economics Position Associate Professor |
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| Language | English |
| Publication Date | 2021/05 |
| Type | Academic Journal |
| Peer Review | Peer reviewed |
| Title | Information use and the Condorcet jury theorem |
| Contribution Type | Sole-authored |
| Journal | Mathematics |
| Journal Type | Another Country |
| Publisher | Multidisciplinary Digital Publishing Institute |
| Volume, Issue, Page | 9(10) 1098 |
| Author and coauthor | Keiichi Morimoto |
| Details | Using a simple model of a coordination game, this paper explores how the information use of individuals affects an optimal committee size. Although enlarging the committee promotes information aggregation, it also stimulates the members’ coordination motive and distorts their voting behavior through higher-order beliefs. On the determination of a finite optimal committee size, the direction and degree of strategic interactions matter. When the strategic complementarity among members is strong, a finite optimal committee size exists. In contrast, it does not exist under strategic substitution. This mechanism is applied to the design of monetary policy committees in a New Keynesian model in which a committee conducts monetary policy under imperfect information. |
| DOI | 10.3390/math9101098 |