The Condorcet jury theorem (CJT) is based on the assumption of homogeneous voters who imperfectly know the correct policy. We reassess the validity of the CJT when voters are homogeneous and each knows the correct decision with an average probability of more than a half.

The paper introduces the concept of polar decision rules and establishes that majority rules are polar rules. We identify second best rules and penultimate rules in cases that majority rules are optimal or the most inferior, respectively. We especially specify the almost expert rule and the almost majority rule as the secondary rules of the expert and majority rules, respectively.

Recent political developments cast doubt on the wisdom of democratic decision-making. Brexit, the Colombian people's (initial) rejection of peace with the FARC, and the election of Donald Trump suggest that the time is right to explore alternatives to democracy. In this essay, I describe and defend the epistocratic system of government which is, given current theoretical and empirical knowledge, most likely to produce optimal political outcomes—or at least better outcomes than democracy produces. To wit, we should expand the suffrage as (...) wide as possible and weight citizens’ votes in accordance with their competence. As it turns out, the optimal system is closely related to J. S. Mill's plural voting proposal. I also explain how voters’ competences can be precisely determined, without reference to an objective standard of correctness and without generating invidious comparisons between voters. (shrink)

In certain judgmental situations where a “correct” decision is presumed to exist, optimal decision making requires evaluation of the decision-makers’ capabilities and the selection of the appropriate aggregation rule. The major and so far unresolved difficulty is the former necessity. This article presents the optimal aggregation rule that simultaneously satisfies these two interdependent necessary requirements. In our setting, some record of the voters’ past decisions is available, but the correct decisions are not known. We observe that any arbitrary evaluation of (...) the decision-makers’ capabilities as probabilities yields some optimal aggregation rule that, in turn, yields a maximum-likelihood estimation of decisional skills. Thus, a skill-evaluation equilibrium can be defined as an evaluation of decisional skills that yields itself as a maximum-likelihood estimation of decisional skills. We show that such equilibrium exists and offer a procedure for finding one. The obtained equilibrium is locally optimal and is shown empirically to generally be globally optimal in terms of the correctness of the resulting collective decisions. Interestingly, under minimally competent (almost symmetric) skill distributions that allow unskilled decision makers, the optimal rule considerably outperforms the common simple majority rule (SMR). Furthermore, a sufficient record of past decisions ensures that the collective probability of making a correct decision converges to 1, as opposed to accuracy of about 0.7 under SMR. Our proposed optimal voting procedure relaxes the fundamental (and sometimes unrealistic) assumptions in Condorcet’s celebrated theorem and its extensions, such as sufficiently high decision-making quality, skill homogeneity or existence of a sufficiently large group of decision makers. (shrink)

A behavioral dataset contains various preference orderings displayed by the same individual in different payoff-irrelevant circumstances. We introduce a framework for eliciting the individual’s underlying preferences in such cases, in which it is conjectured that the variation in the observed preference orderings is the outcome of some cognitive process that distorts the underlying preferences. We then demonstrate for two cognitive processes how to elicit the individual’s underlying preferences from behavioral datasets.