Laurent Bouton
Georgetown University
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Publication
Featured researches published by Laurent Bouton.
Econometrica | 2008
Laurent Bouton; Micael Castanheira
In elections, majority divisions pave the way to focal manipulations and coordination failures, which can lead to the victory of the wrong candidate. This paper shows how this flaw can be addressed if voter preferences over candidates are sensitive to information. We consider two potential sources of divisions: majority voters may have similar preferences but opposite information about the candidates, or opposite preferences. We show that when information is the source of majority divisions, Approval Voting features a unique equilibrium with full information and coordination equivalence. That is, it produces the same outcome as if both information and coordination problems could be resolved. Other electoral systems, such as Plurality and Two-Round elections, do not satisfy this equivalence. The second source of division is opposite preferences. Whenever the fraction of voters with such preferences is not too large, Approval Voting still satisfies full information and coordination equivalence.
Theoretical Economics | 2015
Laurent Bouton; Gabriele Gratton
The majority runoff system is widely used around the world. Yet, our understanding of its properties and of voters’ behavior is limited. In this paper, we fully characterize the set of strictly perfect voting equilibria in large three-candidate majority runoff elections. Considering all possible distributions of preference orderings and intensities, we prove that only two types of equilibria can exist. First, there are always equilibria in which only two candidates receive votes. Second, there may exist an equilibrium in which three candidates receive votes. Its characteristics challenge common beliefs: (i) neither sincere voting by all voters, nor push over tactics (i.e. supporters of the front-runner voting for a less-preferred candidate in order to influence who will face the front-runner in the second round) are supported in equilibrium, and (ii) the winner does not necessarily have democratic legitimacy since the Condorcet winner may not even participate in the second round.
Games and Economic Behavior | 2017
Laurent Bouton; Micael Castanheira; Aniol Llorente-Saguer
The rational-voter model is often criticized on the grounds that two of its central predictions (the paradox of voting and Duvergers Law) are at odds with reality. Recent theoretical advances suggest that these empirically unsound predictions might be an artifact of an (arguably unrealistic) assumption: the absence of aggregate uncertainty about the distribution of preferences in the electorate. In this paper, we propose direct empirical evidence of the effect of aggregate uncertainty in multicandidate elections. Adopting a theory-based experimental approach, we explore whether aggregate uncertainty indeed favors the emergence of non-Duvergers law equilibria in plurality elections. Our experimental results support the main theoretical predictions: sincere voting is a predominant strategy under aggregate uncertainty, whereas without aggregate uncertainty, voters massively coordinate their votes behind one candidate, who wins almost surely.
Games and Economic Behavior | 2017
Laurent Bouton; Aniol Llorente-Saguer; Frédéric Malherbe
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 subject behavior. Finally, we exploit a framing effect to study how the presence of less sophisticated agents affects Vetos welfare properties.
Journal of Political Economy | 2018
Laurent Bouton; Aniol Llorente-Saguer; Frédéric Malherbe
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.
Journal of Public Economics | 2016
Laurent Bouton; Micael Castanheira; Aniol Llorente-Saguer
European Journal of Political Economy | 2008
Laurent Bouton; Marjorie Gassner; Vincenzo Verardi
National Bureau of Economic Research | 2015
Laurent Bouton; Aniol Llorente-Saguer; Frédéric Malherbe
National Bureau of Economic Research | 2013
Laurent Bouton; Paola Conconi; Francisco Pino; Maurizio Zanardi
National Bureau of Economic Research | 2011
Laurent Bouton; Georg Kirchsteiger