A Necessary and Sufficient Condition for Reaching a Consensus Using DeGroot's Method
- 1 June 1981
- journal article
- research article
- Published by JSTOR in Journal of the American Statistical Association
- Vol. 76 (374) , 415
- https://doi.org/10.2307/2287844
Abstract
DeGroot (1974) proposed a model in which a group of k individuals might reach a consensus on a common subjective probability distribution for an unknown parameter. This paper presents a necessary and sufficient condition under which a consensus will be reached by using DeGroot's method. This work corrects an incorrect statement in the original paper about the conditions needed for a consensus to be reached. The condition for a consensus to be reached is straightforward to check and yields the value of the consensus, if one is reached.Keywords
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