Epistemic democracy with defensible premises
AbstractThe contemporary theory of epistemic democracy often draws on the Condorcet Jury Theorem to formally justify the `wisdom of crowds'. But this theorem is inapplicable in its current form, since one of its premises -- voter independence -- is notoriously violated. This premise carries responsibility for the theorem's misleading conclusion that `large crowds are infallible'. We prove a more useful jury theorem: under defensible premises, `large crowds are fallible but better than small groups'. This theorem rehabilitates the importance of deliberation and education, which appear inessential in the classical jury framework. Our theorem is related to Ladha's (1993) seminal jury theorem for interchangeable (`indistinguishable') voters based on de Finetti's Theorem. We prove a more general and simpler version of such a theorem.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40135.
Date of creation: Oct 2010
Date of revision: Jun 2012
Condorcet Jury Theorem; dependence between voters; common causes; interchangeable voters; de Finetti's Theorem;
Other versions of this item:
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- C0 - Mathematical and Quantitative Methods - - General
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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- Ruth Ben-Yashar & Jacob Paroush, 2000. "A nonasymptotic Condorcet jury theorem," Social Choice and Welfare, Springer, vol. 17(2), pages 189-199.
- Franz Dietrich & Christian List, 2002.
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2002-W23, Economics Group, Nuffield College, University of Oxford.
- Christian List & Franz Dietrich, 2002. "A Model of Jury Decisions Where All Jurors Have The Same Evidence," Economics Series Working Papers 2002-W23, University of Oxford, Department of Economics.
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- Serguei Kaniovski, 2010. "Aggregation of correlated votes and Condorcet’s Jury Theorem," Theory and Decision, Springer, vol. 69(3), pages 453-468, September.
- Dietrich, Franz & Spiekermann, Kai, 2012. "Independent opinions? on the causal foundations of belief formation and jury theorems," MPRA Paper 40137, University Library of Munich, Germany, revised Oct 2010.
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