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SUMMARY:Manuel Müller-Frank (IESE) 02.11.2022
DTSTART;TZID=Europe/Berlin:20221102T163000
DTEND;TZID=Europe/Berlin:20221102T174500
DTSTAMP:20260504T103054Z
UID:18da8d4d6bc2431084eecf0b6e487992@www.econ.uni-bonn.de
CREATED:20221027T151851Z
DESCRIPTION:The classic wisdom-of-the-crowd problem asks how a principal c
 an “aggregate” information about the unknown state of the world from a
 gents without understanding the information structure among them. We propo
 se a new simple procedure called Population-Mean-Based Aggregation to achi
 eve this goal. The procedure only requires eliciting agents’ beliefs abo
 ut the state\, and also eliciting some agents’ expectations of the avera
 ge belief in the population. We show that this procedure fully aggregates 
 information: in an infinite population\, it always infers the true state o
 f the world. The procedure can accommodate correlations in agents’ infor
 mation\, misspecified beliefs\, any finite number of possible states of th
 e world\, and only requires very weak assumptions on the information struc
 ture.
LAST-MODIFIED:20221130T094417Z
URL:https://www.econ.uni-bonn.de/micro/en/seminars/micro-theory-seminar/ma
 nuel-muller-frank-02-11.2022
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DTSTART:20221030T020000
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