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Diversity and Optimality

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  • Lu Hong
  • Scott E. Page

Abstract

In this paper, we construct a general model of diverse problem solvers of limited abilities. We use this model to derive two main results: (1) a collection of diverse, bounded problem solvers can locate optimal solutions to difficult problems and (2) a collection of problem solvers of diverse abilities tends to jointly outperform a collection of high ability problem solvers, where a problem solver's ability equals her expected individual problem. Submitted to: American Economic Review.

Suggested Citation

  • Lu Hong & Scott E. Page, 1998. "Diversity and Optimality," Research in Economics 98-08-077e, Santa Fe Institute.
    • Handle: RePEc:wop:safire:98-08-077e
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    References listed on IDEAS

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    Cited by:

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    3. Alberto Alesina & Eliana La Ferrara, 2003. "Ethnic Diversity and Economic Performance," Harvard Institute of Economic Research Working Papers 2028, Harvard - Institute of Economic Research.
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    5. Ying, Zheng & Liu, Shibao & Bao, Shuming & Zhou, Jianbo, 2017. "Religious diversity and regional development in China," China Economic Review, Elsevier, vol. 46(C), pages 1-9.
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    8. Abdul Shaban & Shahbaz Khan, 2023. "Cultural diversity, human capital, and regional economic growth in India," Regional Science Policy & Practice, Wiley Blackwell, vol. 15(5), pages 973-991, June.
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    11. 'Alvaro Romaniega, 2023. "Fatal errors and misuse of mathematics in the Hong-Page Theorem and Landemore's epistemic argument," Papers 2307.04709, arXiv.org, revised Nov 2023.

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    Keywords

    Diversity; bounded rationality;

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