Potential variability of decisional skills in uncertain dichotomous choice situations

DOI10.1016/0165-4896(84)90097-0MaRDI QIDQ801804zbMATH OpenOpenAlexFDO

Authors Shmuel Nitzan, Jacob Paroush

Publication date 1984

Published in Mathematical Social Sciences (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0165-4896(84)90097-0

zbMATH Keywords

decisional skillsexpert rulegroups of individuals with identical preferencesselection of optimal decision rulessensitivity analysissimple majority ruleuncertain dichotomous choicevariable decisional competences

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Decision theory (91B06)

Review text

The main concern of this paper is the selection of optimal decision rules for groups of individuals with identical preferences but diverse and potentially variable independent decisional skills. Employing the uncertain dichotomous choice model the main results illustrate how optimality and sensitivity analysis can be pursued while explicitly recognizing decision-making costs associated with potential variability of decisional skills. For panels of experts consisting of three members our analysis focuses on three special cases of potential variability in individual skills. The extended optimality problem is analyzed resolving the dilemma which of the two common rules, the simple majority rule or the expert rule, is the better selection for the group. The sensitivity of the two rules to variability of decisional skills is also investigated.

Recommendations

• The significance of independent decisions in uncertain dichotomous choice situations
• Partial information on decisional competences and the desirability of the expert rule in uncertain dichotomous choice situations
• Between the expert and majority rules
• Optimality of the expert rule under partial information
• The optimality of the expert and majority rules under exponentially distributed competence

Cites work

• Optimal Decision Rules in Uncertain Dichotomous Choice Situations
• Thirteen theorems in search of the truth

Cited in

(13)

• On two properties of the marginal contribution of individual decisional skills
• A diagnostic test for the sources of persistence in individuals' decisions
• Multi-choice problems and the essential order among decision rules
• Performance evaluation of some special classes of weighted majority rules
• Indecisiveness, preference for flexibility, and a unique subjective state space
• Skill, value and remuneration in committees
• Robustness of optimal decision rules where one of the team members is exceptionally qualified
• Is diversity in capabilities desirable when adding decision makers?
• Group decision making with uncertain outcomes: unpacking child-parent choice of the high school track
• Selection with variation in diagnostic skill: evidence from radiologists
• Partial information on decisional competences and the desirability of the expert rule in uncertain dichotomous choice situations
• The significance of independent decisions in uncertain dichotomous choice situations
• A note on decomposition of sources of variability in perceptual decision-making

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