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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...
Persistent link: https://www.econbiz.de/10010744918
How can different individuals’ probability assignments to some events be aggregated into a collective probability assignment? Although there are several classic results on this problem, they all assume that the ‘agenda’of relevant events forms a -algebra, an overly demanding assumption for...
Persistent link: https://www.econbiz.de/10010746642