- This event has passed.
Franz Dietrich (CNRS): “Fully Bayesian Aggregation”
12 May, 4:30 pm – 6:00 pm
This event will take place online via Zoom.
Everyone is welcome to join using a computer with access to the internet and Zoom. To take part just follow these instructions:
Please note that these events are routinely recorded, with the edited footage being made publicly available on our website and YouTube channel. We will only record the audio, the slides and the speaker and will not include the Q&A section. However, any question asked during the talk itself will feature in the final edit.
Abstract: Can a group be an orthodox rational agent? This requires the group’s aggregate preferences to follow expected utility (static rationality) and to evolve by Bayesian updating (dynamic rationality). Group rationality is possible, but the only preference aggregation rules which achieve it (and are minimally Paretian and continuous) are the linear-geometric rules, which combine individual values linearly and individual beliefs geometrically. Linear-geometric preference aggregation contrasts with classic linear preference aggregation, which combines both values and beliefs linearly, and achieves only static rationality. Our characterisation of linear-geometric preference aggregation implies as corollaries a characterisation of linear value aggregation (Harsanyi’s Theorem) and a characterisation of geometric belief aggregation.