Lecture: Small Worlds, Diversity, and System Performance
Professor David Lazer from the Kennedy School of Government at Harvard University will deliver the first lecture in the Spring 2006 Operations Research / Management Science Seminar series.
Title: The Parable of the Hare and the Tortoise: Small Worlds, Diversity, and System Performance
Abstract: Whether as team members brainstorming, or cultures experimenting with new technologies, problem solvers communicate and share ideas. This paper examines how the structure of these communication networks can affect system-level performance. We present an agent-based model of information sharing, where the less successful emulate the more successful. Results suggest that where agents are dealing with a complex problem, the more efficient the network at disseminating information, and the higher the velocity of information over that network, the better the short run and lower the long run performance of the system. The dynamic underlying this result is that an inefficient network is better at exploration than an efficient network, supporting a more thorough search for solutions in the long run. This suggests that the efficient network is the hare - the fast starter - and the poorly connected network is the tortoise - slow at the start of the race, but ultimately triumphant.
This series is organized by the UMass Amherst INFORMS Student Chapter. Support for this series is provided by the Isenberg School of Management, the Department of Finance and Operations Management, and the John F. Smith Memorial Fund.
Check here for more details about this speaker series.
