A generalized jury theorem
| Authors |
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| Publication date | 2011 |
| Series | Amsterdam Center for Law & Economics working paper, 2011-12 |
| Number of pages | 22 |
| Publisher | Amsterdam: Amsterdam Center for Law & Economics, University of Amsterdam |
| Organisations |
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| Abstract |
The literature on information-aggregation based on the Condorcet Jury Theorem focuses on binary choices. By applying well-known statistical methods to this issue, we develop a framework of analysis capable of dealing with a broader set of choices, including choices over a continuum. We obtain two main results.
First, we prove a Generalized Jury Theorem, including the Condorcet Jury Theorem as a special case. Second, we show that the Generalized Jury Theorem (rather than the Condorcet Jury Theorem) should be used to model the behavior of jurors, when jurors have a common goal and communicate before voting; the reason is that our framework allows for more efficient aggregation of information than the traditional framework. Our findings are illustrated by means of concrete applications. |
| Document type | Working paper |
| Note | Also: Amsterdam Law School legal studies research paper no. 2011-39. - October 5, 2011. |
| Language | English |
| Published at | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1939823 |
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