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A Theory Of Bayesian Groups

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  • Dietrich, Franz

Abstract

A group is often construed as a single agent with its own probabilistic beliefs (credences), which are obtained by aggregating those of the individuals, for instance through averaging. In their celebrated contribution “Groupthink”, Russell et al. (2015) apply the Bayesian paradigm to groups by requiring group credences to undergo a Bayesian revision whenever new information is learnt, i.e., whenever the individual credences undergo a Bayesian revision based on this information. Bayesians should often strengthen this requirement by extending it to 'non-public' or even 'private' information (learnt by 'not all' or 'just one' individual), or to non-representable information (not corresponding to an event in the algebra on which credences are held). I propose a taxonomy of six kinds of 'group Bayesianism', which differ in the type of information for which Bayesian revision of group credences is required: public representable information, private representable information, public non-representable information, and so on. Six corresponding theorems establish exactly how individual credences must (not) be aggregated such that the resulting group credences obey group Bayesianism of any given type, respectively. Aggregating individual credences through averaging is never permitted. One of the theorems – the one concerned with public representable information – is essentially Russell et al.'s central result (with minor corrections).

Suggested Citation

  • Dietrich, Franz, 2016. "A Theory Of Bayesian Groups," MPRA Paper 75363, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:75363
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    References listed on IDEAS

    as
    1. Dietrich, Franz & List, Christian, 2014. "Probabilistic Opinion Pooling," MPRA Paper 54806, University Library of Munich, Germany.
    2. 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.
    3. Peter A. Morris, 1974. "Decision Analysis Expert Use," Management Science, INFORMS, vol. 20(9), pages 1233-1241, May.
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    Cited by:

    1. Franz Dietrich & Christian List, 2017. "Probabilistic opinion pooling generalized. Part two: the premise-based approach," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(4), pages 787-814, April.
    2. Dietrich, Franz, 2021. "Fully Bayesian aggregation," Journal of Economic Theory, Elsevier, vol. 194(C).
    3. Christian J. Feldbacher-Escamilla & Gerhard Schurz, 2023. "Meta-Inductive Probability Aggregation," Theory and Decision, Springer, vol. 95(4), pages 663-689, November.
    4. Franz Dietrich & Christian List, 2021. "Dynamically rational judgment aggregation," Post-Print halshs-03140090, HAL.
    5. Ding, Huihui & Pivato, Marcus, 2021. "Deliberation and epistemic democracy," Journal of Economic Behavior & Organization, Elsevier, vol. 185(C), pages 138-167.

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    More about this item

    Keywords

    probabilistic opinion pooling; Bayesian groups; geometric pooling; public information; private information; characterization theorems;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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