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Information Aggregation in Stratified Societies / Marina Agranov, Ran Eilat, Konstantin Sonin.
- Format:
- Book
- Author/Creator:
- Agranov, Marina.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w31510.
- NBER working paper series no. w31510
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2023.
- Summary:
- We analyze a model of political competition in which the elite forms endogenously to aggregate information and advise the uninformed median voter which candidate to choose. The median voter knows whether or not the endorsed candidate is biased toward the elites, but might still prefer the biased candidate if the elite's endorsement provides sufficient information about her competence. The elite size and the degree of information aggregation by the elite depend on the extent to which the median voter follows the elite's advice. A higher cost of redistribution minimizes the elite's information advantage, hinders information transmission, and decreases the expected competence of the elected politician.
- Notes:
- Print version record
- July 2023.
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