A Necessary and Sufficient Condition for Reaching a Consensus Using DeGroot's Method.

Abstract

DeGroot (1974) proposed a model in which a group of k individuals might reach a consensus on a common subjective probability distribution for an unknown parameter. This paper presents a necessary and sufficient condition under which a consensus will be reached using DeGroot's method. This work corrects an incorrect statement in the original paper about the conditions needed for a consensus to be reached. The condition for a consensus to be reached is straightforward to check and yields the value of the consensus, if one is reached. (Author)

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Document Details

Document Type
Technical Report
Publication Date
Apr 01, 1980
Accession Number
ADA084795

Entities

People

  • Roger L. Berger

Organizations

  • Florida State University

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Cognition
  • Equations
  • Information Systems
  • Judgment
  • Markov Chains
  • Military Research
  • New York
  • Probability
  • Probability Distributions
  • Statistics
  • Stochastic Processes
  • Transitions
  • Universities

Fields of Study

  • Mathematics

Readers

  • Regression Analysis.
  • Statistical inference.