Consensus Group Decision Making Under Model Uncertainty with a View Towards Environmental Policy Making

P. Koundouri, G. I. Papayiannis (), E. V. Petracou and A. N. Yannacopoulos
Additional contact information
P. Koundouri: Athens University of Economics and Business
G. I. Papayiannis: University of Piraeus
E. V. Petracou: University of the Aegean
A. N. Yannacopoulos: Athens University of Economics and Business

Environmental & Resource Economics, 2024, vol. 87, issue 6, No 12, 1649 pages

Abstract: Abstract In this paper we propose a consensus group decision making scheme under model uncertainty consisting of an iterative two-stage procedure based on the concept of Fréchet barycenter. Each stage consists of two steps: the agents first update their position in the opinion metric space adopting a local barycenter characterized by the agents’ immediate interactions and then a moderator makes a proposal in terms of a global barycenter, checking for consensus at each stage. In cases of large heterogeneous groups, the procedure can be complemented by an auxiliary initial homogenization stage, consisting of a clustering procedure in opinion space, leading to large homogeneous groups for which the aforementioned procedure will be applied. The scheme is illustrated in examples motivated from environmental economics.

Keywords: Consensus; Environmental decision making; Fréchet barycenter; Group decision making; Model uncertainty (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10640-024-00846-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:87:y:2024:i:6:d:10.1007_s10640-024-00846-1

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1007/s10640-024-00846-1

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().