Bayesian group belief
If a group is modelled as a single Bayesian agent, what should its beliefs be? I propose an axiomatic model that connects group beliefs to beliefs of the group members. The group members may have different information, different prior beliefs and even different domains (algebras) within which they hold beliefs, accounting for differences in awareness and conceptualisation. As is shown, group beliefs can incorporate all information spread across individuals without individuals having to explicitly communicate their information (that may be too complex or personal to describe, or not describable in principle in the language). The group beliefs derived here take a simple multiplicative form if people's information is independent (and a more complex form if information overlaps arbitrarily). This form contrasts with familiar linear or geometric opinion pooling and the (Pareto) requirement of respecting unanimous beliefs.
(This abstract was borrowed from another version of this item.)
Volume (Year): 35 (2010)
Issue (Month): 4 (October)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/355|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mongin, P., .
"Consistent Bayesian aggregation,"
CORE Discussion Papers RP
1176, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Franz Dietrich & Christian List, 2008.
"Opinion pooling on general agendas,"
LSE Research Online Documents on Economics
20127, London School of Economics and Political Science, LSE Library.
- Pivato, Marcus, 2008. "The Discursive Dilemma and Probabilistic Judgement Aggregation," MPRA Paper 8412, University Library of Munich, Germany.
- Franz Dietrich, 2004. "Opinion Pooling under Asymmetric Information," Public Economics 0407002, EconWPA.
When requesting a correction, please mention this item's handle: RePEc:spr:sochwe:v:35:y:2010:i:4:p:595-626. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.