Optimal majority threshold in a stochastic environment

Vitaly Malyshev

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arXiv · 1901.09233

Optimal majority threshold in a stochastic environment

Vitaly Malyshev

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Abstract

Within the model of social dynamics determined by collective decisions in a stochastic environment (the ViSE model), we consider the case of a homogeneous society consisting of classically rational economic agents. We obtain analytical expressions for the optimal majority threshold as a function of the parameters of the environment, assuming that the proposals are generated by means of a continuous distribution. The cases of several specific distributions are considered in more detail.

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Vitaly Malyshev. 2019-01-26. Optimal majority threshold in a stochastic environment. https://arxiv.org/abs/1901.09233

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