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When overconfident agents slow down collective learning

Author

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  • Juliette Rouchier

    (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)

  • Emily Tanimura

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper presents a model of influence where agents' beliefs are based on an objective reality, such as the properties of an environment. The perception of the objective reality is not direct: all agents know is that the more correct a belief, the more successful the actions that are deduced from this belief. (A pair of agents can influence each other when )Agents can influence eachother by pair when they perform a joint action. They are not only defined by individual beliefs, but also idyosynchratic confidence in their belief - this means that they are not all willing to (engage in action with) act with agents with a different belief and to be influenced by them. We show here that the distribution of confidence in the group has a huge impact on the speed and quality of collective learning and in particular that a small number of overconfident agents can prevent the whole group frow learning properly.

Suggested Citation

  • Juliette Rouchier & Emily Tanimura, 2012. "When overconfident agents slow down collective learning," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00623966, HAL.
    • Handle: RePEc:hal:cesptp:hal-00623966
    DOI: 10.1177/0037549711428948
    Note: View the original document on HAL open archive server: https://paris1.hal.science/hal-00623966
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    References listed on IDEAS

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    Cited by:

    1. Juliette Rouchier & Paola Tubaro & Cécile Emery, 2014. "Opinion transmission in organizations: an agent-based modeling approach," Computational and Mathematical Organization Theory, Springer, vol. 20(3), pages 252-277, September.
    2. Victorien Barbet & Noé Guiraud & Vincent Laperrière & Juliette Rouchier, 2019. "Haggling on Values: Towards Consensus or Trouble," Working Papers halshs-02066846, HAL.
    3. George Butler & Gabriella Pigozzi & Juliette Rouchier, 2019. "Mixing Dyadic and Deliberative Opinion Dynamics in an Agent-Based Model of Group Decision-Making," Complexity, Hindawi, vol. 2019, pages 1-31, August.

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    Keywords

    social influence; simulation agents; agent-based computational economics; belief dissemination; bounded-confidence;
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