Consensus group decision making under model uncertainty with a view towards environmental policy making
Abstract
In this paper we propose a consensus group decision making scheme under model uncertainty consisting of an iterative two-stage procedure and based on the concept of Fr\'echet barycenter. Each step consists of two stages: the agents first update their position in the opinion metric space by 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 step. In cases of large heterogeneous groups the procedure can be complemented by an auxiliary initial homogenization step, 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.
Cite
@article{arxiv.2312.00436,
title = {Consensus group decision making under model uncertainty with a view towards environmental policy making},
author = {Phoebe Koundouri and Georgios I. Papayiannis and Electra V. Petracou and Athanasios N. Yannacopoulos},
journal= {arXiv preprint arXiv:2312.00436},
year = {2024}
}
Comments
31 pages, 5 figures