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Article
Committee Design with Endogenous Participation
Games and Economic Behavior (2017)
  • Volker Hahn, University of Konstanz
Abstract
We analyze different committee designs in a model with the endogenous participation of experts who have private information about their own abilities. Each committee design involves a test of abilities whose accuracy influences experts’ decisions to participate. We derive the following findings. First, higher wages lead to lower quality experts. Second, an increase in transparency improves the quality of experts on the committee. Third, larger committees attract less able experts than smaller ones, unless the committee operates under full transparency. Fourth, we derive the properties of optimal committees. They involve low wages and can be transparent or opaque.
Keywords
  • committee decision-making,
  • information aggregation,
  • adverse selection,
  • efficiency wages,
  • transparency,
  • career concerns
Disciplines
Publication Date
January, 2017
Citation Information
Volker Hahn. "Committee Design with Endogenous Participation" Games and Economic Behavior Vol. 102 (2017) p. 388 - 408
Available at: http://works.bepress.com/volker_hahn/2/