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Consider a committee of experts dealing with dichotomous choice problem, where the correctness probabilities are all greater than [InlineMediaObject not available: see fulltext.] We prove that, if a random subcommittee of odd size m is selected randomly, and entrusted to make a decision by...
Persistent link: https://www.econbiz.de/10005369265
Existing proofs of Condorcet's Jury Theorem formulate only sufficient conditions for its validity. This paper provides necessary and sufficient conditions for Condorcet's Jury Theorem. The framework of the analysis is the case of heterogeneous decisional competence, but the independence...
Persistent link: https://www.econbiz.de/10005752959
Persistent link: https://www.econbiz.de/10005753025