A minimum variance of utility approach to ideal point estimation in certain biased groups (Q1098731): Difference between revisions

This paper discusses a problem of group decision making called ideal point estimation. This problem is equivalent to all individuals of the group, or a representative committee, attempting to estimate the maximum point for an unknown group multiattribute value function. The paper concentrates on a type of systematic error which is possible in such processes and proposes a method of estimation, the minimum variance of utility method, which is capable of debiasing such estimates in certain cases. A model of group error called the dome error process is shown to provide a concrete instance of this type of systematic bias. The method is illustrated numerically and some applications are discussed.