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arXiv · 2007.05629

Diversity Improves Speed and Accuracy in Social Networks

Bhargav Karamched·Megan Stickler·William Ott·Benjamin Lindner·Zachary Kilpatrick·Kresimir Josic
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Abstract

How does temporally structured private and social information shape collective decisions? To address this question we consider a network of rational agents who independently accumulate private evidence that triggers a decision upon reaching a threshold. When seen by the whole network, the first agent's choice initiates a wave of new decisions; later decisions have less impact. In heterogeneous networks, first decisions are made quickly by impulsive individuals who need little evidence to make a choice, but, even when wrong, can reveal the correct options to nearly everyone else. We conclude that groups comprised of diverse individuals can make more efficient decisions than homogenous ones.

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Bhargav Karamched, Megan Stickler, William Ott, Benjamin Lindner, Zachary Kilpatrick, Kresimir Josic. 2020-07-10. Diversity Improves Speed and Accuracy in Social Networks. https://doi.org/10.1103/physrevlett.125.218302

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