Flexible Majority Rules for Cryptocurrency Issuance
نویسندگان
چکیده
منابع مشابه
Voting on Majority Rules∗
We analyze an overlapping generations model of voting on “reform projects”. These resemble investments in that they first require some investment expenditure and later pay off. Since the time during which old people get the benefit is shorter, or because older people are more wealthy and hence pay more taxes, they are more conservative (against reforms) than young people. We show that if people...
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A club's majority rule defines the number of members that must approve a policy proposed to replace the status quo. Since the majority rule thus dictates the extent to which winners must compensate losers, it also determines the incentives to invest in order to become a winner of anticipated projects. If the required majority is large, members invest too little because of a holdup problem; if i...
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The literature on judgment aggregation has now been moving from studying impossibility results regarding aggregation rules towards studying specific judgment aggregation rules. Here we focus on a family of rules that is the natural counterpart of the family of Condorcet-consistent voting rules: majority-preserving judgment aggregation rules. A judgment aggregation rule is majority-preserving if...
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I study implementation by agenda, a straightforward voting mechanism that is widely used in practice. The main result resolves an open question which dates back to Black [1958] and Farquharson [1957/1969]. It establishes that any neutral majority voting rule which satisfies the two necessary conditions identified in prior work (McKelvey and Niemi [1978]; Moulin [1986]) as well as a significantl...
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A decision-making body may utilize a wide variety of different strategies when required to make a collective decision. In principle, we would like to use the most effective decision rule, that is, the rule yielding the highest probability of making the correct decision. However, in reality we often have to choose a decision rule out of some restricted family of rules. Therefore, it is important...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3406656