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MODELLING INDIVIDUAL EXPERTISE IN GROUP JUDGEMENTS

  • Dominik Klein (a1) and Jan Sprenger (a2)
Abstract:

Group judgements are often – implicitly or explicitly – influenced by their members’ individual expertise. However, given that expertise is seldom recognized fully and that some distortions may occur (bias, correlation, etc.), it is not clear that differential weighting is an epistemically advantageous strategy with respect to straight averaging. Our paper characterizes a wide set of conditions under which differential weighting outperforms straight averaging and embeds the results into the multidisciplinary group decision-making literature.

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Economics & Philosophy
  • ISSN: 0266-2671
  • EISSN: 1474-0028
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