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Peer reviewed AgentEx-Meta

Nanda Wijermans Helen Fischer | Published Friday, October 28, 2022

The purpose of the study is to unpack and explore a potentially beneficial role of sharing metacognitive information within a group when making repeated decisions about common pool resource (CPR) use.

We explore the explanatory power of sharing metacognition by varying (a) the individual errors in judgement (myside-bias); (b) the ways of reaching a collective judgement (metacognition-dependent), (c) individual knowledge updating (metacognition- dependent) and d) the decision making context.

The model (AgentEx-Meta) represents an extension to an existing and validated model reflecting behavioural CPR laboratory experiments (Schill, Lindahl & Crépin, 2015; Lindahl, Crépin & Schill, 2016). AgentEx-Meta allows us to systematically vary the extent to which metacognitive information is available to agents, and to explore the boundary conditions of group benefits of metacognitive information.

Confirmation Bias is usually seen as a flaw of the human mind. However, in some tasks, it may also increase performance. Here, agents are confronted with a number of binary Signals (A, or B). They have a base detection rate, e.g. 50%, and after they detected one signal, they get biased towards this type of signal. This means, that they observe that kind of signal a bit better, and the other signal a bit worse. This is moderated by a variable called “bias_effect”, e.g. 10%. So an agent who detects A first, gets biased towards A and then improves its chance to detect A-signals by 10%. Thus, this agent detects A-Signals with the probability of 50%+10% = 60% and detects B-Signals with the probability of 50%-10% = 40%.
Given such a framework, agents that have the ability to be biased have better results in most of the scenarios.

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