Optimal majority threshold in a stochastic environment
Optimization and Control
2020-09-22 v2
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.
Keywords
Cite
@article{arxiv.1901.09233,
title = {Optimal majority threshold in a stochastic environment},
author = {Vitaly Malyshev},
journal= {arXiv preprint arXiv:1901.09233},
year = {2020}
}
Comments
21 pages, 10 figures