Article

Theory and Decision

, Volume 43, Issue 3, pp 209-218

First online:

Order relations among efficient decision rules

  • Jacob ParoushAffiliated withDepartment of Economics, Bar-Ilan University

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Abstract

The paper introduces the concept of polar decision rules and establishes that majority rules are polar rules. We identify second best rules and penultimate rules in cases that majority rules are optimal or the most inferior, respectively. We especially specify the almost expert rule and the almost majority rule as the secondary rules of the expert and majority rules, respectively.

Order relations decision rules polar rules