Democracy under uncertainty: The wisdom of crowds and the free-rider problem in group decision making.
Abstract
We introduce a game theory model of individual decisions to cooperate by contributing personal resources to group decisions versus by free riding on the contributions of other members. In contrast to most public-goods games that assume group returns are linear in individual contributions, the present model assumes decreasing marginal group production as a function of aggregate individual contributions. This diminishing marginal returns...
Paper Details
Title
Democracy under uncertainty: The wisdom of crowds and the free-rider problem in group decision making.
Published Date
Jan 1, 2011
Journal
Volume
118
Issue
1
Pages
76 - 96
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Notes
History