Antoine Bommier, ETH Zürich. "Disagreement Aversion".
Department seminar. Antoine Bommier is a Professor and Chair of Integrative Risk Management and Economic at ETH Zürich. He will present the paper: "Disagreement Aversion".
Experts often disagree. A decision-maker may be averse to such expert disagreement. Existing models of aversion to expert disagreement rest on ambiguity-averse preferences adopting a unanimity principle: If all experts consider one choice better than another, so should the decision-maker. Such unanimity among experts, however, can be spurious, masking substantial disagreement on the underlying reasons. We introduce a novel notion of disagreement aversion to distinguish spurious from genuine unanimity and develop a model that can capture disagreement aversion in our sense. The central element of our model is the cautious aggregation of experts’ beliefs.
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