This chapter describes the difference between deliberative and collective decision-making procedures. Collective decision making takes place when the decisions of many independent actors are aggregated together to produce a final outcome. The chapter argues that under the right conditions collective decision-making procedures can harness the wisdom of crowds to process information very efficiently. The chapter looks at a variety of policy areas that feature collective aggregation mechanisms, including monetary policy and cap-and-trade programs. The major finding is that these policy areas are much less likely to undergo major policy punctuations than other areas where outcomes are determined through deliberative decision making.
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