On the significance of the prior of a correct decision in committees
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. Copyright Springer Science+Business Media New York 2014
Volume (Year): 76 (2014)
Issue (Month): 3 (March)
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