The optimality of the expert and majority rules under exponentially distributed competence

DOI10.1023/A:1005094032398MaRDI QIDQ1273923zbMATH OpenOpenAlexFDO

Authors Luba Sapir

Publication date 6 January 1999

Published in Theory and Decision (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1023/a:1005094032398

zbMATH Keywords

decision ruleexpert rulelogarithmic expertisemajority ruleoptimal rulepartial informationuncertain dichotomous choice

Mathematics Subject Classification ID

Decision theory (91B06)

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Cited in

(20)

• Comparison of the polar decision rules for various types of distributions
• Performance evaluation of some special classes of weighted majority rules
• Justification of the simple majority and chairman rules
• Committee, expert advice, and the weighted majority algorithm: an application to the pricing decision of a monopolist
• General representation of epistemically optimal procedures
• Generalized means of jurors' competencies and marginal changes of jury's size
• Majority vote of even and odd experts in a polychotomous choice situation
• The doctrinal paradox: comparison of decision rules in a probabilistic framework
• The unanimity rule and extremely asymmetric committees
• Is specialization desirable in committee decision making?
• Between the expert and majority rules
• Range of Asymptotic Behaviour of the Optimality Probability of the Expert and Majority Rules
• Optimality of the expert rule under partial information
• Expert rule versus majority rule under partial information
• Expert rule versus majority rule under partial information. II.
• A general theorem and eight corollaries in search of correct decision
• Partial information on decisional competences and the desirability of the expert rule in uncertain dichotomous choice situations
• Potential variability of decisional skills in uncertain dichotomous choice situations
• The importance of expertise in group decisions
• Algorithmic calculation of the optimality probability of decision rules

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