Here's a link to "Relational EPR"
http://arxiv.org/abs/quant-ph/0604064In RelEPR or interactive realism nothing bizarre like the collapse of a physical wave function out there in nature happens. Everything is pretty commonsensical. Each observer has his package of information, his Hilbert space with vectors in it representing states, information, and he updates that as more information comes in, and...
ooops have to go help with supper
One point of this is that Tegmark, in his entertaining SciAm where he promotes MWI to lay audience, presents a
false dichotomy between two rather ancient Interpretations, in each which something
bizarre and nonsensical is imagined to occur. Either the Universe, our Reality FORKS or physical reality imagined as a unique real thing inexplicably COLLAPSES. In either case the "wave function" is imagined to be a real physical thing (not just an observers information). Maybe there is a God overseeing reality and it is HIS wave function describing how HE sees it. (Tegmark slips that idea in by talking about the "bird" and the "bird's eye view").
If the universe really splits (all the time all over the place wherever interactions occur) where does nature get the stuff to make all those universes and by what strange physical process? Likewise collapse, it is not the kind of thing we see other kinds of wave functions doing--unphysical. And it doesn't even solve the EPR paradox! which more recent "MOI" approaches like Relational QM or Quantum Bayesian do!