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Consensus Group Decision Making Under Model Uncertainty with a View Towards Environmental Policy Making

By: Contributor(s): Material type: TextTextPublication details: Environmental and Resource Economics; 2024Description: 1611-1649ISSN:
  • 1573-1502
Subject(s): Online resources: Summary: In this paper we propose a consensus group decision making scheme under model uncertainty consisting of an iterative two-stage procedure based on the concept of Frechet barycenter. Each stage consists of two steps: the agents first update their position in the opinion metric space adopting 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 stage. In cases of large heterogeneous groups, the procedure can be complemented by an auxiliary initial homogenization stage, 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.
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Article Index Article Index Dr VKRV Rao Library Vol. 87, No. 6 Not for loan AI551

In this paper we propose a consensus group decision making scheme under model uncertainty consisting of an iterative two-stage procedure based on the concept of Frechet barycenter. Each stage consists of two steps: the agents first update their position in the opinion metric space adopting 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 stage. In cases of large heterogeneous groups, the procedure can be complemented by an auxiliary initial homogenization stage, 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.

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