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Microscopic modeling and analysis of collective decision making: equality bias leads suboptimal solutions

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Abstract

We discuss a novel microscopic model for collective decision-making interacting multi-agent systems. In particular we are interested in modeling a well known phenomena in the experimental literature called equality bias, where agents tend to behave in the same way as if they were as good, or as bad, as their partner. We analyze the introduced problem and we prove the suboptimality of the collective decision-making in the presence of equality bias. Numerical experiments are addressed in the last section.

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Acknowledgements

PV would like to acknowledge Dr. Luigi Teodonio for his stimulating discussions about the topic of the paper. MZ acknowledges the ”Compagnia di San Paolo”.

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Authors and Affiliations

  1. Department of Economics, Roma Tre University, Via Silvio D’Amico 77, 00145, Rome, Italy

    Pierluigi Vellucci

  2. Department of Mathematical Sciences, Politecnico di Torino, Corso Duca degli Abruzzi 24, 10129, Turin, Italy

    Mattia Zanella

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  1. Pierluigi Vellucci
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  2. Mattia Zanella
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Correspondence to Pierluigi Vellucci.

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Vellucci, P., Zanella, M. Microscopic modeling and analysis of collective decision making: equality bias leads suboptimal solutions. Ann Univ Ferrara 64, 185–207 (2018). https://doi.org/10.1007/s11565-017-0280-4

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  • DOI: https://doi.org/10.1007/s11565-017-0280-4

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