Eliezer, my best reading of majoritarianism is that it advises averaging the most recent individual probability distributions, and then having each person use expected utility with that combined distribution to make his choice.
In your example, you have students pick “estimates,” average them, give them new info and a new cost function, and then complain that the average of the old estimates, ignoring the new info, does not optimize the new cost function.
Eliezer, my best reading of majoritarianism is that it advises averaging the most recent individual probability distributions, and then having each person use expected utility with that combined distribution to make his choice.
In your example, you have students pick “estimates,” average them, give them new info and a new cost function, and then complain that the average of the old estimates, ignoring the new info, does not optimize the new cost function.