Optimality of the expert rule under partial information (Q5960125): Difference between revisions
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Latest revision as of 11:22, 30 July 2024
scientific article; zbMATH DE number 1727255
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English | Optimality of the expert rule under partial information |
scientific article; zbMATH DE number 1727255 |
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Optimality of the expert rule under partial information (English)
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11 April 2002
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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.
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dichotomous choice model
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majority rule
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expert decision rule
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