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Decisions with conflicting and imprecise information

Gajdos, Thibault and Vergnaud, Jean-Christophe (2009) Decisions with conflicting and imprecise information. LSE Choice Group working paper series, vol. 5, no. 8. The Centre for Philosophy of Natural and Social Science (CPNSS), London School of Economics, London, UK.

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Abstract

The most usual procedure when facing decisions in complex settings consists in consulting experts, aggregating the information they provide, and deciding on the basis of this aggregated information. We argue that such a procedure entails a substantial loss, insofar as it precludes the possibility to take into account simultaneously the decision maker’s attitude towards conflict among experts and her attitude towards imprecision of information. We propose to consider directly how a decision maker behaves when using information coming from several sources. We give an axiomatic foundation for a decision criterion that allows to distinguish on a behavioral basis the decision maker’s attitude towards imprecision and towards conflict.

Item Type: Monograph (Working Paper)
Official URL: http://www2.lse.ac.uk/CPNSS/Home.aspx
Additional Information: © 2009 The authors
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System: D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty
D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D83 - Search; Learning; Information and Knowledge; Communication; Belief
Sets: Research centres and groups > LSE Choice Group
Research centres and groups > Centre for Philosophy of Natural and Social Science (CPNSS)
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: vol. 5, no. 8
Date Deposited: 08 Feb 2010 10:54
URL: http://eprints.lse.ac.uk/27005/

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