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Minoru Kitahara and Yohei Sekiguchi
''Aggregate Accuracy under Majority Rule with Heterogeneous Cost Functions''
( 2006, Vol. 4 No.25 )
We investigate an election model with costly accuracy improvement by allowing heterogeneity in the cost functions. We find that the aggregate accuracy in large elections is characterized by the average value of the inverse of the second derivative at zero information.
Keywords: costly information acquisition
JEL: D7 - Analysis of Collective Decision-Making: General
D8 - Information, Knowledge, and Uncertainty: General
Manuscript Received : Jul 20 2006 Manuscript Accepted : Jul 21 2006

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