Abstract
The current note clarifies why, in committees, the prior probability of a correct collective choice might be of particular significance and possibly should sometimes even be the sole appropriate basis for making the collective decision. In particular, we present sufficient conditions for the superiority of a rule based solely on the prior relative to the simple majority rule, even when the decisional skills of the committee members are assumed to be homogeneous.
| Original language | English |
|---|---|
| Pages (from-to) | 317-327 |
| Number of pages | 11 |
| Journal | Theory and Decision |
| Volume | 76 |
| Issue number | 3 |
| Early online date | 23 Mar 2013 |
| DOIs | |
| State | Published - Mar 2014 |
Keywords
- Committee
- Majority rule
- Optimal decision rule
- Prior-based rule
All Science Journal Classification (ASJC) codes
- 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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