Partial information on decisional competences and the desirability of the expert rule in uncertain dichotomous choice situations
type: Item
instance of: scholarly article
title: Partial information on decisional competences and the desirability of the expert rule in uncertain dichotomous choice situations
zbMATH Open document ID: 0554.90007
DOI: 10.1007/BF00132612
author: Shmuel Nitzan
author: Jacob Paroush
published in: Theory and Decision
publication date: 1984-01-01T00:00:00Z
review text: The paper analyzes the expert resolution problem by employing extended versions of the uncertain dichotomous choice model. The main purpose of this study is to illustrate how the analysis of optimal decision rules can be carried out while dispensing with the common restrictive assumption of full information regarding individual decisional competences. In contrast to most previous studies in this field we here evaluate the expert rule under alternative assumptions regarding the available partial information on judgmental competences rather than compare it in an ad hoc manner to some common alternative rules, such as simple majority rule. A fuller optimality analysis allowing the evaluation of all relevant decision rules, and not merely the expert rule, is attempted for a five-member panel of experts assuming a uniform distribution of individual competences. For three-member groups the optimality issue is resolved by assuming no information on individual competences and interpreting the expert rule as an even-chance lottery on skills.
Mathematics Subject Classification ID: 91B14
Mathematics Subject Classification ID: 91B06
Mathematics Subject Classification ID: 90B50
zbMATH DE Number: 3883879
zbMATH Keywords: expert resolution problem
zbMATH Keywords: uncertain dichotomous choice model
zbMATH Keywords: optimal decision rules
zbMATH Keywords: majority rule
zbMATH Keywords: optimality analysis
MaRDI profile type: Publication
cites work: Collective rationality versus distribution of power for binary social choice functions
cites work: Thirteen theorems in search of the truth
cites work: Optimal Decision Rules in Uncertain Dichotomous Choice Situations
cites work: The significance of independent decisions in uncertain dichotomous choice situations
cites work: A general theorem and eight corollaries in search of correct decision
full work available at URL: https://doi.org/10.1007/bf00132612
OpenAlex ID: W2077664819
description: scientific article; zbMATH DE number 3883879