Speed-vs-Accuracy Tradeoff in Collective Estimation: An Adaptive Exploration-Exploitation Case
Mohsen Raoufi,
Heiko Hamann,
Pawel Romanczuk
Abstract:The tradeoff between accuracy and speed is considered fundamental to individual and collective decisionmaking. In this paper, we focus on collective estimation as an example of collective decision-making. The task is to estimate the average scalar intensity of a desired feature in the environment. The solution we propose consists of exploration and exploitation phases, where the switching time is a factor dictating the balance between the two phases. By decomposing the total accuracy into bias and variance, we… Show more
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