Between the expert and majority rules Academic Article uri icon

abstract

  • Our starting point is Sapir (1998), where the probabilities of the ex- pert rule and of the simple majority rule being optimal were calculated under the assumption of exponentially distributed logarithmic expertise levels. Here we nd 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.

publication date

  • January 1, 2003