Related papers: Spread of decisions in the corporate board network
Members of boards of directors of large corporations who also serve together on an outside board, form the so called interlock graph of the board and are assumed to have a strong influence on each others' opinion. We here study how the size…
Traded corporations are required by law to have a majority of outside directors on their board. This requirement allows the existence of directors who sit on the board of two or more corporations at the same time, generating what is…
Here we study the emergence of spontaneous leadership in large populations. In standard models of opinion dynamics, herding behavior is only obeyed at the local scale due to the interaction of single agents with their neighbors; while at…
Investigations of social influence in collective decision-making have become possible due to recent technologies and platforms that record interactions in far larger groups than could be studied before. Herding and its impact on…
Corporations across the world are highly interconnected in a large global network of corporate control. This paper investigates the global board interlock network, covering 400,000 firms linked through 1,700,000 edges representing shared…
We explored decision-making dynamics in social systems, referencing the 'herd behavior' from prior studies where individuals follow preceding choices without understanding the underlying reasons. While previous research highlighted a…
We explore how the mechanics of collective decision-making, especially of jury deliberation, can be inferred from macroscopic statistics. We first hypothesize that the dynamics of competing opinions can leave a "fingerprint" in the joint…
We develop a sequence of models describing information transmission and decision dynamics for a network of individual agents subject to multiple sources of influence. Our general framework is set in the context of an impending natural…
Humans do not always make rational choices, a fact that experimental economics is putting on solid grounds. The social context plays an important role in determining our actions, and often we imitate friends or acquaintances without any…
The spread of new ideas, behaviors or technologies has been extensively studied using epidemic models. Here we consider a model of diffusion where the individuals' behavior is the result of a strategic choice. We study a simple coordination…
Collective, especially group-based, managerial decision making is crucial in organizations. Using an evolutionary theoretic approach to collective decision making, agent-based simulations were conducted to investigate how human collective…
We study the role of hierarchical structures in a simple model of collective consensus formation based on the bounded confidence model with continuous individual opinions. For the particular variation of this model considered in this paper,…
Consensus decision-making in social groups strongly depends on communication links that determine to whom individuals send, and from whom they receive, information. Here, we ask how consensus decisions are affected by strategic updating of…
Social networks play an important role in analyzing the impact of individual-level interactions on societal or economic outcomes. We model interactive decision making for a community of individuals with different traits, represented by a…
Collective decision-making is a widespread phenomenon in both biological and artificial systems, where individuals reach a consensus through social interactions. While traditional models of opinion dynamics and contagion focus on pairwise…
Individual choices are either based on personal experience or on information provided by peers. The latter case, causes individuals to conform to the majority in their neighborhood. Such herding behavior may be very efficient in aggregating…
Diversity in leadership positions, including corporate boards, is an important aspect of equality. It is important because it is the key to better decision-making and innovation, and above all, it paves the way for future generations to…
The complexity of human behaviour can lead to very unpredictable patterns in social activity and structure. Here we demonstrate the instability of a community network controlled by majority ruling, where an element adopts the most popular…
Opinion dynamics have fascinated researchers for centuries. The ability of societies to learn as well as the emergence of irrational {\it herding} are equally evident. The simplest example is that of agents that have to determine a binary…
Collective leadership and herding may arise in standard models of opinion dynamics as an interplay of a strong separation of time scales within the population and its hierarchical organization. Using the voter model as a simple opinion…