Comparison of experts

Ehud Lehrer*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

Two experts, I and II, have two assessments regarding the real distribution over the states of nature. Expert I is more knowledgeable than expert II if following the advice of I is always more beneficial than following the advice of II. It is shown that if expert I is more knowledgeable than expert II, then I must hold an assessed distribution which is a convex combination of the real distribution and the one held by expert II.

Original languageEnglish
Pages (from-to)207-214
Number of pages8
JournalJournal of Mathematical Economics
Volume30
Issue number2
DOIs
StatePublished - Sep 1998

Funding

FundersFunder number
National Science FoundationSES-9022305

    Keywords

    • Assessed distribution
    • Decision
    • States of nature

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