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The importance of expertise in group decisions

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  • Alexander Lundberg

    (West Virginia University)

Abstract

Prior to a collective binary choice, members of a group receive binary signals correlated with the better option. A larger group size may produce less accurate decisions, but expertise is everywhere beneficial. If a group accounts for correlation in signals, a relatively expert member puts an upper bound on the probability of a false belief. The bound holds for any group size and signal distribution. Furthermore, a population investing in expertise is better off cultivating a small mass of elites than adopting an egalitarian policy of education.

Suggested Citation

  • Alexander Lundberg, 2020. "The importance of expertise in group decisions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(3), pages 495-521, October.
    • Handle: RePEc:spr:sochwe:v:55:y:2020:i:3:d:10.1007_s00355-020-01253-3
    DOI: 10.1007/s00355-020-01253-3
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