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Bayesian group belief

Dietrich, Franz (2010) Bayesian group belief. Social Choice and Welfare, 35 (4). pp. 595-626. ISSN 0176-1714

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Abstract

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.

Item Type: Article
Official URL: http://www.springer.com/economics/economic+theory/...
Additional Information: © 2010 The author
Library of Congress subject classification: B Philosophy. Psychology. Religion > B Philosophy (General)
H Social Sciences > HB Economic Theory
Q Science > QA Mathematics
Journal of Economic Literature Classification System: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D70 - General
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice; Clubs; Committees; Associations
Sets: Departments > Philosophy, Logic and Scientific Method
Research centres and groups > Centre for Philosophy of Natural and Social Science (CPNSS)
Research centres and groups > LSE Choice Group
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: UT ISI:000281987500003
Date Deposited: 19 Oct 2010 15:16
URL: http://eprints.lse.ac.uk/29573/

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