Decisions with conflicting and imprecise information

Thibault Gajdos () and Jean-Christophe Vergnaud
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Thibault Gajdos: X-DEP-ECO - Département d'Économie de l'École Polytechnique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris, CERSES - UMR 8137 - Centre de recherche sens, ethique, société - UPD5 - Université Paris Descartes - Paris 5 - CNRS - Centre National de la Recherche Scientifique, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: The most usual procedure when facing decisions in complex settings consists in consulting experts, aggregating the information they provide, and deciding on the basis of this aggregated information. We argue that such a procedure entails a substantial loss, insofar as it precludes the possibility to take into account simultaneously the decision maker's attitude towards conflict among experts and her attitude towards imprecision of information. We propose to consider directly how a decision maker behaves when using information coming from several sources. We give an axiomatic foundation for a decision criterion that allows to distinguish on a behavioral basis the decision maker's attitude towards imprecision and towards conflict.

Keywords: Decisions with multiple sources of information. Conflict aversion. Imprecision aversion; Decisions with multiple sources of information. Conflict aversion. Imprecision aversion. (search for similar items in EconPapers)
Date: 2013-07
Note: View the original document on HAL open archive server: https://hal.science/hal-00443075
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Citations: View citations in EconPapers (23)

Published in Social Choice and Welfare, 2013, 41 (2), pp.427-452. ⟨10.1007/s00355-012-0691-1⟩

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Related works:
Journal Article: Decisions with conflicting and imprecise information (2013)
Working Paper: Decisions with conflicting and imprecise information (2013)
Working Paper: Decisions with conflicting and imprecise information (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00443075

DOI: 10.1007/s00355-012-0691-1

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