Decisions with conflicting and imprecise information

Gajdos, T. & Vergnaud, J. (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.
Copy

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.

picture_as_pdf


Download

Export as

EndNote BibTeX Reference Manager Refer Atom Dublin Core JSON Multiline CSV
Export