Abstract
We investigate necessary and sufficient conditions for the existence of Bayesian-Nash equilibria that satisfy the Condorcet Jury Theorem (CJT). In the Bayesian game G n among n jurors, we allow for arbitrary distribution on the types of jurors. In particular, any kind of dependency is possible. If each juror i has a "constant strategy", σ i (that is, a strategy that is independent of the size n ≥ i of the jury), such that σ = (σ 1, σ 2,...,σ n...) satisfies the CJT, then by McLennan (Am Political Sci Rev 92:413-419, 1998) there exists a Bayesian-Nash equilibrium that also satisfies the CJT. We translate the CJT condition on sequences of constant strategies into the following problem: (**) For a given sequence of binary random variables X = (X 1, X 2,...,X n,...) with joint distribution P, does the distribution P satisfy the asymptotic part of the CJT?. We provide sufficient conditions and two general (distinct) necessary conditions for (**). We give a complete solution to this problem when X is a sequence of exchangeable binary random variables.
| Original language | English |
|---|---|
| Pages (from-to) | 91-125 |
| Number of pages | 35 |
| Journal | Social Choice and Welfare |
| Volume | 39 |
| Issue number | 1 |
| DOIs | |
| State | Published - Jun 2012 |
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