Abstract
This study is related to a Condorcetian problem of information aggregation that finds a "true" social ordering using individual orderings, that are supposed to partly contain the "truth". In this problem, we introduce a new maximum likelihood rule and analyse its performance. This rule selects an alternative that maximizes the probability of realizing individual orderings, conditional on the alternative being the top according to a true social ordering. We show that under a neutrality condition of alternatives, the probability that our rule selects the true top alternative is higher than that of any other rule.
Original language | English |
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Pages (from-to) | 271-284 |
Number of pages | 14 |
Journal | Japanese Economic Review |
Volume | 66 |
Issue number | 2 |
DOIs | |
Publication status | Published - 2015 Jun 1 |
ASJC Scopus subject areas
- Economics and Econometrics