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Optimal majority threshold in a stochastic environment

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  • Vitaly Malyshev

    (Russian Academy of Sciences
    Russian Academy of Sciences)

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 random variables. The cases of several specific distributions of these variables are considered in more detail.

Suggested Citation

  • Vitaly Malyshev, 2021. "Optimal majority threshold in a stochastic environment," Group Decision and Negotiation, Springer, vol. 30(2), pages 427-446, April.
    • Handle: RePEc:spr:grdene:v:30:y:2021:i:2:d:10.1007_s10726-020-09717-8
    DOI: 10.1007/s10726-020-09717-8
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    References listed on IDEAS

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