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The increasing prominence of Socially Responsible Consumers has brought about a heightened focus on the ethical, environmental, social, and ideological dimensions influencing product purchasing decisions. Despite this emphasis, studies have…
People act upon their desires, but often, also act in adherence to implicit social norms. How do people infer these unstated social norms from others' behavior, especially in novel social contexts? We propose that laypeople have intuitive…
Behavior of systems that are functions of anticipated behavior of other systems, whose own behavior is also anticipatory but homeostatic and determined by hierarchical ordering, which changes over time, of sets of possible environments that…
The orderly behaviors observed in large-scale groups, such as fish schooling and the organized movement of crowds, are both ubiquitous and essential for the survival and stability of these systems. Understanding how such complex collective…
The dynamics of individuals is of essential importance for understanding the evolution of social systems. Most existing models assume that individuals in diverse systems, ranging from social networks to e-commerce, all tend to what is…
Understanding human mobility is critical for decision support in areas from urban planning to infectious diseases control. Prior work has focused on tracking daily logs of outdoor mobility without considering relevant context, which contain…
Decision-making individuals often imitate their highest-earning fellows rather than optimize their own utilities, due to bounded rationality and incomplete information. Perpetual fluctuations between decisions have been reported as the…
Studies of micro-level price datasets find more frequent small price increases than decreases, which can be explained by consumer inattention because time-constrained shoppers might ignore small price changes. Recent empirical studies of…
Intertemporal choices involve making decisions that require weighing the costs in the present against the benefits in the future. One specific type of intertemporal choice is the decision between purchasing an individual item or opting for…
The puzzling idea that the combination of independent estimates of the magnitude of a quantity results in a very accurate prediction, which is superior to any or, at least, to most of the individual estimates is known as the wisdom of…
A new approach for the description of phenomena of social aggregation is suggested. On the basis of psychological concepts (as for instance social norms and cultural coordinates), we deduce a general mechanism for the social aggregation in…
Travel decisions tend to exhibit sensitivity to uncertainty and information processing constraints. These behavioural conditions can be characterized by a generative learning process. We propose a data-driven generative model version of…
Many classical models of collective behavior assume that emergent dynamics result from external and observable interactions among individuals. However, how collective dynamics in human populations depend on the internal psychological…
Human mobility is subject to collective dynamics that are the outcome of numerous individual choices. Smart card data which originated as a means of facilitating automated fare collections has emerged as an invaluable source for analyzing…
We study the self-assembly of a complex network of collaborations among self-interested agents. The agents can maintain different levels of cooperation with different partners. Further, they continuously, selectively, and independently…
Financial markets are subject to long periods of polarized behavior, such as bull-market or bear-market phases, in which the vast majority of market participants seem to almost exclusively choose one action (between buying or selling) over…
Studies using massive, passively data collected from communication technologies have revealed many ubiquitous aspects of social networks, helping us understand and model social media, information diffusion, and organizational dynamics. More…
A new model, called "Human Dynamics", has been recently proposed that individuals execute activities based on a perceived priority of tasks, which can be characterized by a power-law distribution of waiting time between consecutive tasks…
This paper presents the Sequential Rationality Hypothesis, which argues that consumers are better able to make utility-maximizing decisions when products appear in sequential pairwise comparisons rather than in simultaneous multi-option…
The consumers' willingness to pay plays an important role in economic theory and in setting policy. For a market, this function can often be estimated from observed behavior -- preferences are revealed. However, economists would like to…