Optimal Sequential Decision Architectures and the Robustness of Hierarchies and Polyarchies

SMU School of Economics and Social Sciences Working Paper No. 5-2003

21 Pages Posted: 22 Jul 2003

See all articles by Winston T.H. Koh

Winston T.H. Koh

Singapore Management University - School of Social Sciences

Date Written: February 2003

Abstract

This paper studies collective decision making in the context of a project selection model. We derive the optimal decision architecture when marginal decision costs are present, and investigate the circumstances under which the hierarchy and polyarchy exist as optimal sequential architectures. Our analysis extends previous results on optimal committee decision-making to a sequential setting, and further demonstrates the fragility of the hierarchy and polyarchy as optimal architectures.

Keywords: optimal decision architecture, project selection, hierarchy, polyarchy

JEL Classification: D81

Suggested Citation

Koh, Winston T.H., Optimal Sequential Decision Architectures and the Robustness of Hierarchies and Polyarchies (February 2003). SMU School of Economics and Social Sciences Working Paper No. 5-2003. Available at SSRN: https://ssrn.com/abstract=413683 or http://dx.doi.org/10.2139/ssrn.413683

Winston T.H. Koh (Contact Author)

Singapore Management University - School of Social Sciences ( email )

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