Collective decision-making by rational agents with differing preferences.

ABSTRACT: Collective decisions can emerge from individual-level interactions between members of a group. These interactions are often seen as social feedback rules, whereby individuals copy the decisions they observe others making, creating a coherent group decision. The benefit of these behavioral rules to the individual agent can be understood as a transfer of information, whereby a focal individual learns about the world by gaining access to the information possessed by others. Previous studies have analyzed this exchange of information by assuming that all agents share common goals. While differences in information and differences in preferences have often been conflated, little is known about how differences between agents' underlying preferences affect the use and efficacy of social informatio

SUBMITTER: Mann RP 

PROVIDER: S-EPMC7229690 | biostudies-literature | 2020 May

REPOSITORIES: biostudies-literature