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Judgment Aggregation by a Boundedly Rational Decision-Maker

Author

Listed:
  • Eyal Baharad

    (Bar Ilan University)

  • Ruth Ben-Yashar

    (Bar Ilan University)

Abstract

This study identifies a new optimal decision rule in a general pairwise choice framework, taking into account behavioral aspects where subjective probabilities are assumed. The optimal rule under such a setting is compared to the one identified where behavioral considerations are not incorporated into the model.

Suggested Citation

  • Eyal Baharad & Ruth Ben-Yashar, 2021. "Judgment Aggregation by a Boundedly Rational Decision-Maker," Group Decision and Negotiation, Springer, vol. 30(4), pages 903-914, August.
    • Handle: RePEc:spr:grdene:v:30:y:2021:i:4:d:10.1007_s10726-021-09740-3
    DOI: 10.1007/s10726-021-09740-3
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    References listed on IDEAS

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    13. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
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    22. Ruth Ben-Yashar & Jacob Paroush, 2001. "Optimal decision rules for fixed-size committees in polychotomous choice situations," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 737-746.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Judgment aggregation; Optimal rule; Subjective probabilities;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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