By Topic

Minimum Cost Consensus With Quadratic Cost Functions

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

3 Author(s)
Ben-Arieh, D. ; Dept. of Ind. & Manuf. Syst. Eng., Kansas State Univ., Manhattan, KS ; Easton, T. ; Evans, B.

Group consensus is an important method for making business decisions. In this paper, the consensus process is defined as a dynamic and interactive group decision process, which is coordinated by a moderator who helps the experts to gradually move their opinions closer to each other. This paper describes the importance of group consensus and the need to minimize the cost of this process. Furthermore, this paper describes the costs associated with decision making using group consensus and then describes three methods of reaching consensus assuming quadratic costs for a single-criterion decision problem. The first method finds the group opinion (consensus) that yields the minimum cost of reaching throughout the group. The second method finds the opinion with the minimum cost of the consensus provided that all experts must be within a given distance of the group opinion. The last method finds the maximum number of experts that can fit within the consensus, given a specified budget constraint.

Published in:

Systems, Man and Cybernetics, Part A: Systems and Humans, IEEE Transactions on  (Volume:39 ,  Issue: 1 )