Aniol Llorente-Saguer
Biographic Data
| ID | 5805530 |
|---|---|
| NAME | Aniol Llorente-Saguer |
| GIVEN NAMES | Aniol |
| FAMILY NAME | Llorente-Saguer |
| SIGNATURE | LLORENTE-SAGUER A |
| AFFILIATIONS | Queen Mary University of London |
| ORCID | 0000-0001-8704-5284 |
| VERIFIED | Yes |
| TOTAL WORKS | 12 |
| TOTAL CITATIONS | 16 |
| WORKS AS AUTHOR | 12 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2012 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 2 |
Public Information as a Source of Disagreement Among Shareholders
Voting Rights, Agenda Control and Information Aggregation
This paper examines the comparative properties of voting rules based on the richness of their ballot spaces, assuming a given distribution of voting rights. We focus on how well voting rules aggregate the information dispersed among voters. We consider how different voting rules affect both voters’ decisions at the voting stage and the incentives of the agenda-setter, who decides whether to put the proposal to a vote. Without agenda-setter, the v…
Public Information as a Source of Disagreement Among Shareholders
Voting Rights, Agenda Control and Information Aggregation
This paper studies the informational efficiency of voting mechanisms in shareholder meetings. When the management does not affect the proposal being voted on, we show that voting mechanisms are more efficient when their ballot space is richer. Moreover, efficiency requires full divisibility of the votes. When the management has agenda power, we uncover a novel tradeoff: more efficient mechanisms provide worse incentives to select good proposals. …
Voting in Shareholders Meetings
Run-off Elections in the Laboratory
We study experimentally the properties of the majority run-off system and compare them to those of plurality rule. Our focus is on Duverger’s famous prediction that the plurality rule leads to higher co-ordination of votes on a limited number of candidates than the majority run-off rule. We find strong co-ordination forces under both systems. However, as predicted by the theory, in some cases these forces are stronger under plurality. Despite the…
The Marginal Voter’s Curse
The swing voter’s curse is useful for explaining patterns of voter participation, but arises because voters restrict attention to the rare event of a pivotal vote. Recent empirical evidence suggests that electoral margins influence policy outcomes, even away from the 50% threshold. If so, voters should also pay attention to the marginal impact of a vote. Adopting this assumption, we find that a marginal voter’s curse gives voters a new reason to …
Get Rid of Unanimity Rule
We study unanimous decision making under incomplete information. We argue that unanimous decision rules are not all equivalent. We show that majority rules with veto power are (i) Pareto superior to commonly used unanimous rules and (ii) ex ante efficient in a broad class of situations
Unanimous Rules in the Laboratory
We study the information aggregation properties of unanimous voting rules in the laboratory. In line with theoretical predictions, we find that majority rule with veto power dominates unanimity rule. We also find that the strategic voting model is a fairly good predictor of observed subject behavior. There are, however, cases where organizing the data seems to require a mix of strategic and sincere voting. This pattern of behavior would imply tha…
Do direct-democratic procedures lead to higher acceptance than political representation
Are direct-democratic decisions more acceptable to voters than decisions arrived at through representative procedures? We conduct an experimental online vignette study with a German sample to investigate how voters’ acceptance of a political decision depends on the process through which it is reached. For a set of different issues, we investigate how acceptance varies depending on whether the decision is the result of a direct-democratic institut…
Issue Advocacy and Mass Political Sophistication
»Vielmehr bietet [der Kommentar] auf höchstem Niveau eine substantielle Auseinandersetzung mit den Hintergründen, den Zusammenhängen, der Theorie und der Praxis des Grundgesetzes. Besseres lässt sich von einem Verfassungskommentar nicht sagen.“ Herbert Günther Staaatsanzeiger für das Land Hessen 2018 (50), 1494–1495
Competitive Equilibrium in Markets for Votes
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium and show by construction that an equilibrium exists. The equilibrium we characterize always results in dictatorship if there is any trade, and the market for votes generates welfare losses, relative to simple majority voting, if the c…
Do direct-democratic procedures lead to higher acceptance than political representation
Are direct-democratic decisions more acceptable to voters than decisions arrived at through representative procedures? We conduct an experimental online vignette study with a German sample to investigate how voters’ acceptance of a political decision depends on the process through which it is reached. For a set of different issues, we investigate how acceptance varies depending on whether the decision is the result of a direct-democratic institut…
Run-off Elections in the Laboratory
We study experimentally the properties of the majority run-off system and compare them to those of plurality rule. Our focus is on Duverger’s famous prediction that the plurality rule leads to higher co-ordination of votes on a limited number of candidates than the majority run-off rule. We find strong co-ordination forces under both systems. However, as predicted by the theory, in some cases these forces are stronger under plurality. Despite the…
Competitive Equilibrium in Markets for Votes
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium and show by construction that an equilibrium exists. The equilibrium we characterize always results in dictatorship if there is any trade, and the market for votes generates welfare losses, relative to simple majority voting, if the c…
Get Rid of Unanimity Rule
We study unanimous decision making under incomplete information. We argue that unanimous decision rules are not all equivalent. We show that majority rules with veto power are (i) Pareto superior to commonly used unanimous rules and (ii) ex ante efficient in a broad class of situations
Competitive Equilibrium in Markets for Votes
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium and show by construction that an equilibrium exists. The equilibrium we characterize always results in dictatorship if there is any trade, and the market for votes generates welfare losses, relative to simple majority voting, if the c…
Issue Advocacy and Mass Political Sophistication
»Vielmehr bietet [der Kommentar] auf höchstem Niveau eine substantielle Auseinandersetzung mit den Hintergründen, den Zusammenhängen, der Theorie und der Praxis des Grundgesetzes. Besseres lässt sich von einem Verfassungskommentar nicht sagen.“ Herbert Günther Staaatsanzeiger für das Land Hessen 2018 (50), 1494–1495
Unanimous Rules in the Laboratory
We study the information aggregation properties of unanimous voting rules in the laboratory. In line with theoretical predictions, we find that majority rule with veto power dominates unanimity rule. We also find that the strategic voting model is a fairly good predictor of observed subject behavior. There are, however, cases where organizing the data seems to require a mix of strategic and sincere voting. This pattern of behavior would imply tha…
Do direct-democratic procedures lead to higher acceptance than political representation
Are direct-democratic decisions more acceptable to voters than decisions arrived at through representative procedures? We conduct an experimental online vignette study with a German sample to investigate how voters’ acceptance of a political decision depends on the process through which it is reached. For a set of different issues, we investigate how acceptance varies depending on whether the decision is the result of a direct-democratic institut…
Get Rid of Unanimity Rule
We study unanimous decision making under incomplete information. We argue that unanimous decision rules are not all equivalent. We show that majority rules with veto power are (i) Pareto superior to commonly used unanimous rules and (ii) ex ante efficient in a broad class of situations
The Marginal Voter’s Curse
The swing voter’s curse is useful for explaining patterns of voter participation, but arises because voters restrict attention to the rare event of a pivotal vote. Recent empirical evidence suggests that electoral margins influence policy outcomes, even away from the 50% threshold. If so, voters should also pay attention to the marginal impact of a vote. Adopting this assumption, we find that a marginal voter’s curse gives voters a new reason to …
Voting Rights, Agenda Control and Information Aggregation
This paper studies the informational efficiency of voting mechanisms in shareholder meetings. When the management does not affect the proposal being voted on, we show that voting mechanisms are more efficient when their ballot space is richer. Moreover, efficiency requires full divisibility of the votes. When the management has agenda power, we uncover a novel tradeoff: more efficient mechanisms provide worse incentives to select good proposals. …
Voting in Shareholders Meetings
Run-off Elections in the Laboratory
We study experimentally the properties of the majority run-off system and compare them to those of plurality rule. Our focus is on Duverger’s famous prediction that the plurality rule leads to higher co-ordination of votes on a limited number of candidates than the majority run-off rule. We find strong co-ordination forces under both systems. However, as predicted by the theory, in some cases these forces are stronger under plurality. Despite the…
Public Information as a Source of Disagreement Among Shareholders
Voting Rights, Agenda Control and Information Aggregation
This paper examines the comparative properties of voting rules based on the richness of their ballot spaces, assuming a given distribution of voting rights. We focus on how well voting rules aggregate the information dispersed among voters. We consider how different voting rules affect both voters’ decisions at the voting stage and the incentives of the agenda-setter, who decides whether to put the proposal to a vote. Without agenda-setter, the v…
Public Information as a Source of Disagreement Among Shareholders
Law (9 works) · Political science (9 works) · Economics (7 works) · Computer Science (6 works) · Game Theory and Voting Systems (6 works) · Voting (6 works) · Law (5 works) · Auction Theory and Applications (4 works) · Business (4 works) · Electoral Systems and Political Participation (4 works)