Journal ArticleDOI
Reaching a Consensus
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In this article, the authors consider a group of individuals who must act together as a team or committee, and assume that each individual in the group has his own subjective probability distribution for the unknown value of some parameter.Abstract:
Consider a group of individuals who must act together as a team or committee, and suppose that each individual in the group has his own subjective probability distribution for the unknown value of some parameter. A model is presented which describes how the group might reach agreement on a common subjective probability distribution for the parameter by pooling their individual opinions. The process leading to the consensus is explicitly described and the common distribution that is reached is explicitly determined. The model can also be applied to problems of reaching a consensus when the opinion of each member of the group is represented simply as a point estimate of the parameter rather than as a probability distribution.read more
Citations
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Journal ArticleDOI
Social networks in structural equation models
TL;DR: In this article, the causal impact of a network of interpersonal influences has been investigated and the theoretical foundations and implications of extending the general linear model to encompass interpersonal influences have been discussed.
Journal Article
Collective learning and optimal consensus decisions in social animal groups
TL;DR: How learning as part of a collective results in behavior that is fundamentally different from that learned in isolation, allowing grouping organisms to spontaneously detect correlations between group members' observations of environmental cues, adjust strategy as a function of changing group size, and achieve a decision accuracy that is very close to that which is provably optimal, regardless of environmental contingencies.
Journal ArticleDOI
Consensus of fractional-order multi-agent systems with input time delay
TL;DR: In this article, the authors derived sufficient conditions on consensus by using the technique of inequality, which showed that the consensus can be achieved for any bounded input time delay, under the assumption that the interconnection topology of all agents has a spanning tree.
Repository
Is housing still the business cycle? Perhaps not
TL;DR: This article showed that residential investment led GDP under a wide range of specifications, while non-residential investment did not, and showed that the increasing stringency of local land use policy had interfered with the ability of the Federal Reserve to use housing as an instrument on monetary policy.
Journal ArticleDOI
Improving Collective Estimations Using Resistance to Social Influence
TL;DR: This work obtained a statistical model of how humans change their estimation when receiving the estimates made by other individuals and used this result and the fact that each individual uses a different value of the social weight to devise a method that extracts subgroups resisting social influence.
References
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Journal ArticleDOI
An Introduction to Probability Theory and Its Applications
David A. Freedman,William Feller +1 more
Journal ArticleDOI
An Introduction to Probability Theory and Its Applications.
Book
A first course in stochastic processes
Samuel Karlin,Howard M. Taylor +1 more
TL;DR: In this paper, the Basic Limit Theorem of Markov Chains and its applications are discussed and examples of continuous time Markov chains are presented. But they do not cover the application of continuous-time Markov chain in matrix analysis.
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