Phoebe Koundouri, Georgios I. Papayiannis, Electra V. Petracou, Athanasios N. Yannacopoulos
{"title":"Consensus group decision making under model uncertainty with a view towards environmental policy making","authors":"Phoebe Koundouri, Georgios I. Papayiannis, Electra V. Petracou, Athanasios N. Yannacopoulos","doi":"arxiv-2312.00436","DOIUrl":null,"url":null,"abstract":"In this paper we propose a consensus group decision making scheme under model\nuncertainty consisting of an iterative two-stage procedure and based on the\nconcept of Fr\\'echet barycenter. Each step consists of two stages: the agents\nfirst update their position in the opinion metric space by a local barycenter\ncharacterized by the agents' immediate interactions and then a moderator makes\na proposal in terms of a global barycenter, checking for consensus at each\nstep. In cases of large heterogeneous groups the procedure can be complemented\nby an auxiliary initial homogenization step, consisting of a clustering\nprocedure in opinion space, leading to large homogeneous groups for which the\naforementioned procedure will be applied. The scheme is illustrated in examples motivated from environmental economics.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"arXiv - QuantFin - Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/arxiv-2312.00436","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
In this paper we propose a consensus group decision making scheme under model
uncertainty consisting of an iterative two-stage procedure and based on the
concept of Fr\'echet barycenter. Each step consists of two stages: the agents
first update their position in the opinion metric space by a local barycenter
characterized by the agents' immediate interactions and then a moderator makes
a proposal in terms of a global barycenter, checking for consensus at each
step. In cases of large heterogeneous groups the procedure can be complemented
by an auxiliary initial homogenization step, consisting of a clustering
procedure in opinion space, leading to large homogeneous groups for which the
aforementioned procedure will be applied. The scheme is illustrated in examples motivated from environmental economics.