Optimality of the expert rule under partial information (Q5960125): Difference between revisions

The authors study the uncertain dichotomous choice model, in which a group of decision makers is required to select one of two alternatives. Applications of this model are relevant in medicine, management, banking and others. The simple majority rule, or to assign more weight to the opinion of members more qualified, are possible decision rules, as the extreme example of the expert decision rule; the probability of the expert rule to be optimal is considered for several types of distributions.