Bayesian decision-makers reaching consensus using expert information

Garisch, I.

dc.contributor.author	Garisch, I.
dc.contributor.other	Central University of Technology, Free State, Bloemfontein
dc.date.accessioned	2015-09-23T13:13:04Z
dc.date.available	2015-09-23T13:13:04Z
dc.date.issued	2009
dc.date.issued	2009
dc.identifier.issn	16844998
dc.identifier.uri	http://hdl.handle.net/11462/534
dc.description	Published Article	en_US
dc.description.abstract	The paper is concerned with the problem of Bayesian decision-makers seeking consensus about the decision that should be taken from a decision space. Each decision-maker has his own utility function and it is assumed that the parameter space has two points, Θ = {θ1,θ2 }. The initial probabilities of the decision-makers for Θ can be updated by information provided by an expert. The decision-makers have an opinion about the expert and this opinion is formed by the observation of the expert's performance in the past. It is shown how the decision-makers can decide beforehand, on the basis of this opinion, whether the consultation of an expert will result in consensus.	en_US
dc.format.extent	260 770 bytes, 1 file
dc.format.mimetype	Application/PDF
dc.language.iso	en_US	en_US
dc.publisher	Journal for New Generation Sciences, Vol 7, Issue 2: Central University of Technology, Free State, Bloemfontein
dc.relation.ispartofseries	Journal for New Generation Sciences;Vol 7, Issue 2
dc.subject	Bayesian decision-makers	en_US
dc.subject	Expert information	en_US
dc.title	Bayesian decision-makers reaching consensus using expert information	en_US
dc.type	Article	en_US
dc.rights.holder	Central University of Technology, Free State, Bloemfontein