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Meta-Inductive Probability Aggregation.

Authors :
Feldbacher-Escamilla, Christian J.
Schurz, Gerhard
Source :
Theory & Decision; Nov2023, Vol. 95 Issue 4, p663-689, 27p
Publication Year :
2023

Abstract

There is a plurality of formal constraints for aggregating probabilities of a group of individuals. Different constraints characterise different families of aggregation rules. In this paper, we focus on the families of linear and geometric opinion pooling rules which consist in linear, respectively, geometric weighted averaging of the individuals' probabilities. For these families, it is debated which weights exactly are to be chosen. By applying the results of the theory of meta-induction, we want to provide a general rationale, namely, optimality, for choosing the weights in a success-based way by scoring rules. A major argument put forward against weighting by scoring is that these weights heavily depend on the chosen scoring rule. However, as we will show, the main condition for the optimality of meta-inductive weights is so general that it holds under most standard scoring rules, more precisely under all scoring rules that are based on a convex loss function. Therefore, whereas the exact choice of a scoring rule for weighted probability aggregation might depend on the respective purpose of such an aggregation, the epistemic rationale behind such a choice is generally valid. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
00405833
Volume :
95
Issue :
4
Database :
Complementary Index
Journal :
Theory & Decision
Publication Type :
Academic Journal
Accession number :
172943041
Full Text :
https://doi.org/10.1007/s11238-023-09933-z