Collective Proofreading and the Optimal Voting Rule

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Policy decisions often involve a repeated proofreading process before implementation. We present a dynamic model of proofreading decisions by a heterogeneous committee before implementing a risky policy. The proofreading process is necessary because the risky policy contains an unknown number of errors. Proofreading continues as long as a qualified majority votes for continuation. Once the proofreading process ends, and the policy is implemented, members receive heterogeneous penalties based on the remaining errors. We characterize the optimal voting rule given the costs and penalties for the committee. We find that any qualified voting rule, including majority rule, for proofreading is inefficient.
Publisher
ROUTLEDGE JOURNALS
Issue Date
2022-02
Language
English
Article Type
Article
Citation

GLOBAL ECONOMIC REVIEW, v.51, no.1, pp.1 - 17

ISSN
1226-508X
DOI
10.1080/1226508X.2022.2040379
URI
http://hdl.handle.net/10203/294784
Appears in Collection
MT-Journal Papers(저널논문)
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