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Between the expert and majority rules

Published online by Cambridge University Press:  01 July 2016

Daniel Berend*
Affiliation:
Ben-Gurion University
Luba Sapir*
Affiliation:
Ben-Gurion University
*
Postal address: Departments of Mathematics and of Computer Science, Ben-Gurion University, Beer-Sheva 84105, Israel.
∗∗ Postal address: Department of Industrial Engineering and Management, Ben-Gurion University, Beer-Sheva 84105, Israel. Email address: [email protected]

Abstract

Sapir (1998) calculated the probabilities of the expert rule and of the simple majority rule being optimal under the assumption of exponentially distributed logarithmic expertise levels. Here we find the analogous probabilities for the family of restricted majority rules, including the above two extreme rules as special cases, and the family of balanced expert rules. We compare the two families, the rules within each family, and all rules of the two families with the extreme rules.

Type
General Applied Probability
Copyright
Copyright © Applied Probability Trust 2003 

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