# 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…

## One Citation

Aggregation of Pareto optimal models

- Economics
- 2021

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)…

## References

SHOWING 1-10 OF 37 REFERENCES

Aggregation Procedure for Cardinal Preferences: A Formulation and Proof of Samuelson's Impossibility Conjecture

- Economics
- 1977

SAMUELSON MADE THE CONJECTURE stated above in his 1967 paper [7]. He also formalized there the axiom of independence of irrelevant alternatives for cardinal preferences, used here. Preference are…

An expected utility theory for state-dependent preferences

- Economics
- 2016

This note is a generalization and improved interpretation of the main result of Karni and Schmeidler (An Expected utility theory for state-dependent preferences. Working paper no. 48-80 of the…

A Mixture-Set Axiomatization of Conditional Subjective Expected Utility

- Economics
- 1973

An axiomatization is presented for a Savage-type conditional subjective expected utility model. The axioms consist of extensions of the Herstein-Milnor [11] axioms for "measurable" utility, a…

Conditioning and Aggregation of Preferences

- Economics
- 1997

This paper develops a general framework for modeling choice under uncertainty that extends subjective expected utility to include nonseparabilities, state-dependence, and the effect of subjective or…

Path Independent Choices

- Mathematics
- 1978

The structure of a real linear space enables us to interpret a point x, in the convex hull of a set S, as a lottery over the elements of S.

PATH INDEPENDENCE, RATIONALITY, AND SOCIAL CHOICE

- Economics
- 1973

The paper provides several axiomatizations of the concept of "path independence" as applied to choice functions defined over finite sets. The axioms are discussed in terms of their relationship to…

Inductive Inference: An Axiomatic Approach

- Philosophy
- 2001

A predictor is asked to rank eventualities according to their plausibility, based on past cases. We assume that she can form a ranking given any memory that consists of finitely many past cases. Mild…

Conditional expected utility

- Economics
- 2013

Let $${\mathcal {E}}$$E be a class of events. Conditionally Expected Utility decision makers are decision makers whose conditional preferences $$\succsim _{E}$$≿E, $$E\in {\mathcal {E}}$$E∈E, satisfy…

Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility

- EconomicsJournal of Political Economy
- 1955

I T HE naive concept of social welfare as a sum of intuitively measurable and comparable individual cardinal utilities has been found unable to withstand the methodological criticism of the Pareto…