Daniel Berend
Senior Academic
Expert rule versus majority rule under partial information
We study the uncertain dichotomous choice model. Under some assumptions on the distribution of 'expertise' of the various panel members, the probability of the expert rule to be the optimal one is compared to that of the majority rule to be optimal. It turns out that for the former probability exceeds the latter by far, especially as the panel size becomes large.
| Publication language | English |
| Pages | 179-197 |
| Journal | Theory and Decision |
| Volume | 35 |
| Issue number | 2 |
| Publication status | Published - 01.09.1993 |
Keywords
collective decision-making
decision-making
decisional competence
dichotomous choice
expert rule
jury problem
majority rule
optimal rule
partial information on decisional competences
ranked experts
weighted majority rule
ASJC Scopus subject areas
General Decision Sciences
Developmental and Educational Psychology
Arts and Humanities (miscellaneous)
Applied Psychology
General Social Sciences
General Economics, Econometrics and Finance
Computer Science Applications
