Expert rule versus majority rule under partial information

Daniel Berend; Jørgen E. Harmse

doi:10.1007/BF01074958

Expert rule versus majority rule under partial information

Daniel Berend
, Jørgen E. Harmse

Research output: Contribution to journal › Article › peer-review

14 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	179-197
Number of pages	19
Journal	Theory and Decision
Volume	35
Issue number	2
DOIs	https://doi.org/10.1007/BF01074958
State	Published - 1 Sep 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

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10.1007/BF01074958

Cite this

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AB - 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.

KW - collective decision-making

KW - decision-making

KW - decisional competence

KW - dichotomous choice

KW - expert rule

KW - jury problem

KW - majority rule

KW - optimal rule

KW - partial information on decisional competences

KW - ranked experts

KW - weighted majority rule

UR - https://www.scopus.com/pages/publications/0011590251

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ER -

Expert rule versus majority rule under partial information

Abstract

Keywords

ASJC Scopus subject areas

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