• Corpus ID: 244488263

Aggregation of Models, Choices, Beliefs, and Preferences

@inproceedings{Bajgiran2021AggregationOM,
  title={Aggregation of Models, Choices, Beliefs, and Preferences},
  author={Hamed Hamze Bajgiran and Houman Owhadi},
  year={2021}
}
A natural notion of rationality/consistency for aggregating models is that, for all (possibly aggregated) models A and B, if the output of model A is fpAq and if the output model B is fpBq, then the output of the model obtained by aggregating A and B must be a weighted average of fpAq and fpBq. Similarly, a natural notion of rationality for aggregating preferences of ensembles of experts is that, for all (possibly aggregated) experts A and B, and all possible choices x and y, if both A and B… 
Aggregation of Pareto optimal models
Pareto efficiency is a concept commonly used in economics, statistics, and engineering. In the setting of statistical decision theory, a model is said to be Pareto efficient/optimal (or admissible)

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