Aggregating multiple expert data for linear case valuation models using the MDE principle

The Maximum Decisional Efficiency Principle is a recently developed technique for parameter estimation based on actual expert decisions. This paper illustrates how the method may be used to aggregate multiple expert data such as for developing expert system logic for binary classification problems....

Full description

Saved in:
Bibliographic Details
Published in:Decision Support Systems 1997-10, Vol.21 (2), p.75-82
Main Authors: Troutt, Marvin D., Rai, Arun, Tadisina, Suresh K.
Format: Article
Language:English
Subjects:
Decision making models
Discriminant analysis
Experts
Linear discriminant models
MDE principle
Multiple experts
Operations research
Parameter estimation
Studies
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The Maximum Decisional Efficiency Principle is a recently developed technique for parameter estimation based on actual expert decisions. This paper illustrates how the method may be used to aggregate multiple expert data such as for developing expert system logic for binary classification problems. Previously the method has only been applied to derive a scoring function of Leontief type. In this paper the method is applied to the more important problem of deriving a linear scoring function. Hence the results here are more directly comparable to Linear Discriminant Analysis. Also an example is developed to illustrate the performance of the method when experts disagree on one or more cases to be classified.
ISSN:0167-9236
1873-5797
DOI:10.1016/S0167-9236(97)00018-3