EXTERNALLY BAYESIAN GROUPS,

Abstract

Suppose that a group of individuals, each of whom is a Bayesian, is required to make a joint decision, and that although the individuals all agree on the utility function for the problem, they disagree on the prior distribution of the relevant states of nature. An axiom of group rationality is introduced--namely, that to an outsider the decisions of the group appear like the decision of a Bayesian-- and its implications are explored when the group decision-making procedure either can or cannot be amended. (Author)

Document Details

Document Type
Technical Report
Publication Date
Nov 01, 1964
Accession Number
AD0608611

Entities

People

  • Albert Madansky

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • Human Systems

Fields of Study

  • Mathematics

Readers

  • Organizational Psychology.
  • Regression Analysis.
  • Theoretical Analysis.

Technology Areas

  • AI & ML
  • AI & ML - Bayesian Inference