The private and social value of information in majority decisions |
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| Authors: | Hans Gersbach |
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| Affiliation: | (1) Institut für Volkswirtschaft, Universität Basel, Petersgraben 51, CH-4003 Basel, Switzerland |
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| Abstract: | The paper contrasts the value of information at the private level with the social value when all voters have access to information. A sequence of examples illustrates how the private and social value of information changes as the distribution of benefits and costs derived from a project varies across individuals and states of the world. |
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