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Information Collection Strategic Design in Experts-assisted Decision Making Paradigm

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  • Mehdi Mostaghimi

    (Southern Connecticut State University)

Abstract

In an experts-assisted decision making paradigm, the information collection design becomes a strategic variable under a weak assumption that the final decision is dependent on the design used to collect information as well. As a result, the same information of the experts and the decision maker about the problem can potentially produce different final decisions for different information collection designs. The implication is that a decision maker can strategically select a design which serves his/her objective. This paper uses a Bayesian estimation methodology for combining experts' information with the decision maker's prior. An information collection process is designed by setting constraints on this model. Several designs are developed here using such controlled factors as a one-stage versus a two-stage decision process, experts' rank ordering, and group versus individual lobbying/consultation. An example is provided to illustrate the applicability of the concept. It is shown that the information produced in the process of producing a decision can also give insights into the impacts of the decision maker and the experts on the decision.

Suggested Citation

  • Mehdi Mostaghimi, 2001. "Information Collection Strategic Design in Experts-assisted Decision Making Paradigm," Group Decision and Negotiation, Springer, vol. 10(5), pages 375-388, September.
    • Handle: RePEc:spr:grdene:v:10:y:2001:i:5:d:10.1023_a:1011884222444
    DOI: 10.1023/A:1011884222444
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    References listed on IDEAS

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    1. Sniezek, Janet A. & Buckley, Timothy, 1995. "Cueing and Cognitive Conflict in Judge-Advisor Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 62(2), pages 159-174, May.
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    3. Heath, Chip & Gonzalez, Rich, 1995. "Interaction with Others Increases Decision Confidence but Not Decision Quality: Evidence against Information Collection Views of Interactive Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 61(3), pages 305-326, March.
    4. Peter A. Morris, 1977. "Combining Expert Judgments: A Bayesian Approach," Management Science, INFORMS, vol. 23(7), pages 679-693, March.
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