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Probabilistic opinion pooling generalized Part two: The premise-based approach

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  • Dietrich, Franz
  • List, Christian

Abstract

How can different individuals' probability functions on a given σ-algebra of events be aggregated into a collective probability function? Classic approaches to this problem often require `event-wise independence': the collective probability for each event should depend only on the individuals' probabilities for that event. In practice, however, some events may be `basic' and others `derivative', so that it makes sense first to aggregate the probabilities for the former and then to let these constrain the probabilities for the latter. We formalize this idea by introducing a `premise-based' approach to probabilistic opinion pooling, and show that, under a variety of assumptions, it leads to linear or neutral opinion pooling on the `premises'.

Suggested Citation

  • Dietrich, Franz & List, Christian, 2013. "Probabilistic opinion pooling generalized Part two: The premise-based approach," MPRA Paper 57254, University Library of Munich, Germany, revised Jul 2014.
  • Handle: RePEc:pra:mprapa:57254
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    References listed on IDEAS

    as
    1. Mongin, Philippe, 2008. "Factoring out the impossibility of logical aggregation," Journal of Economic Theory, Elsevier, vol. 141(1), pages 100-113, July.
    2. Franz Dietrich & Christian List, 2017. "Probabilistic opinion pooling generalized. Part one: general agendas," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(4), pages 747-786, April.
    3. Mongin Philippe, 1995. "Consistent Bayesian Aggregation," Journal of Economic Theory, Elsevier, vol. 66(2), pages 313-351, August.
    4. Franz Dietrich, 2010. "Bayesian group belief," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 35(4), pages 595-626, October.
    5. Franz Dietrich & Christian List, 2007. "Arrow’s theorem in judgment aggregation," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 29(1), pages 19-33, July.
    6. Dietrich, Franz, 2016. "A Theory Of Bayesian Groups," MPRA Paper 75363, University Library of Munich, Germany.
    7. Dietrich, Franz & Mongin, Philippe, 2010. "The premiss-based approach to judgment aggregation," Journal of Economic Theory, Elsevier, vol. 145(2), pages 562-582, March.
    8. Dietrich, Franz & List, Christian, 2014. "Probabilistic Opinion Pooling," MPRA Paper 54806, University Library of Munich, Germany.
    9. Peter A. Morris, 1974. "Decision Analysis Expert Use," Management Science, INFORMS, vol. 20(9), pages 1233-1241, May.
    10. List, Christian & Pettit, Philip, 2002. "Aggregating Sets of Judgments: An Impossibility Result," Economics and Philosophy, Cambridge University Press, vol. 18(1), pages 89-110, April.
    11. Robert T. Clemen & Robert L. Winkler, 1999. "Combining Probability Distributions From Experts in Risk Analysis," Risk Analysis, John Wiley & Sons, vol. 19(2), pages 187-203, April.
    12. Christopher Chambers, 2007. "An ordinal characterization of the linear opinion pool," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 33(3), pages 457-474, December.
    13. Dietrich, Franz, 2006. "Judgment aggregation: (im)possibility theorems," Journal of Economic Theory, Elsevier, vol. 126(1), pages 286-298, January.
    14. Weymark, John A., 1997. "Aggregating Ordinal Probabilities on Finite Sets," Journal of Economic Theory, Elsevier, vol. 75(2), pages 407-432, August.
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    Cited by:

    1. Franz Dietrich & Christian List, 2017. "Probabilistic opinion pooling generalized. Part one: general agendas," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(4), pages 747-786, April.
    2. Franz Dietrich & Kai Spiekermann, 2021. "Social Epistemology," Post-Print halshs-02431971, HAL.
    3. Baharad, Eyal & Neeman, Zvika & Rubinchik, Anna, 2020. "The rarity of consistent aggregators," Mathematical Social Sciences, Elsevier, vol. 108(C), pages 146-149.
    4. Minkyung Wang, 2024. "Aggregating individual credences into collective binary beliefs: an impossibility result," Theory and Decision, Springer, vol. 97(1), pages 39-66, August.

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    More about this item

    Keywords

    Probabilistic opinion pooling; judgment aggregation; subjective probability; premise-based aggregation;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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