Heterogeneity Improves Speed and Accuracy in Social Networks
Bhargav R. Karamched, Megan Stickler, William Ott, Benjamin Lindner, Zachary P. Kilpatrick, Krešimir Josić́
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.