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• W2259543405 abstract "The Condorcet Jury Theorem states that given subjective expected utility maximization and common values, the equilibrium probability that the correct candidate wins goes to 1 as the size of the electorate goes to infinity. This paper studies strategic voting when voters have pure common values but may be ambiguity averse—exhibit Ellsberg-type behavior—as modeled by maxmin expected utility preferences. It provides sufficient conditions so that the equilibrium probability of the correct candidate winning the election is bounded above by 1⁄2 in at least one state. As a consequence, there is no equilibrium in which information aggregates." @default.
• W2259543405 created "2016-06-24" @default.
• W2259543405 creator A5044615447 @default.
• W2259543405 date "2016-09-01" @default.
• W2259543405 modified "2023-10-17" @default.
• W2259543405 title "Condorcet meets Ellsberg" @default.
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• W2259543405 doi "https://doi.org/10.3982/te1284" @default.
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