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Risk aversion, overconfidence and private information as determinants of majority thresholds

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Attanasi, G., Corazzini, L., Georgantzis, N. and Passarelli, F. (2014) Risk aversion, overconfidence and private information as determinants of majority thresholds. Pacific Economic Review, 19 (3). pp. 355-386. ISSN 1361-374X

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To link to this item DOI: 10.1111/1468-0106.12070

Abstract/Summary

We present and experimentally test a theoretical model of majority threshold determination as a function of voters’ risk preferences. The experimental results confirm the theoretical prediction of a positive correlation between the voter's risk aversion and the corresponding preferred majority threshold. Furthermore, the experimental results show that a voter's preferred majority threshold negatively relates to the voter's confidence about how others will vote. Moreover, in a treatment in which individuals receive a private signal about others’ voting behaviour, the confidence-related motivation of behaviour loses ground to the signal's strength.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:37459
Publisher:Wiley

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