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The Rational Group

Abstract : Can a group be a standard rational agent? This would require the group to hold aggregate preferences which maximise expected utility and change only by Bayesian updating. Group rationality is possible, but the only preference aggregation rules which support it (and are minimally Paretian and continuous) are the linear-geometric rules, which combine individual tastes linearly and individual beliefs geometrically.
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https://halshs.archives-ouvertes.fr/halshs-02905409
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Submitted on : Thursday, July 23, 2020 - 1:49:41 PM
Last modification on : Tuesday, July 28, 2020 - 4:26:45 PM

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Franz Dietrich. The Rational Group. 2020. ⟨halshs-02905409⟩

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