Analyses of Consensus Building Models Based on the Prospect Theory for Equilibrium States

Abstract

In this study, we propose a consensus model with nontrivial behaviors. This model uses the prospect theory to describe the human decision-making process in considerable detail, which enables realistic and diverse behaviors. Under the proposed model, the equilibrium states were analyzed based on two settings. In one of the settings, we confirmed markedly diverse behaviors such as first-order and second-order transitions. Nontrivial discontinuous transitions were also identified and analyzed in detail on the basis of the Landau theory. In the analysis of the other setting, an intuitive interpretation was made on the basis of the prospect theory.