Related papers: Preference aggregation theory without acyclicity: …
In the study of the evolution of cooperation, resource limitations are usually assumed just to provide a finite population size. Recently, however, it has been pointed out that resource limitation may also generate dynamical payoffs able to…
Cooperative game theory studies how to allocate the joint value generated by a set of players. These games are typically analyzed using the characteristic function form with transferable utility, which represents the value attainable by…
This work contributes to a foundational question in economic theory: how do individual-level cognitive biases interact with collective choice mechanisms? We study a setting where voters hold intrinsic preference rankings over a set of…
We study a class of {\em aggregation rules} that could be applied to ethical AI decision-making. These rules yield the decisions to be made by automated systems based on the information of profiles of preferences over possible choices. We…
The preferences of players in non-cooperative games represent their choice in the set of available options, which meet the completeness property if players are able to compare any pair of available options. In the existing literature, the…
This paper proposes a model of choice via agentic artificial intelligence (AI). A key feature is that the AI may misinterpret a menu before recommending what to choose. A single acyclicity condition guarantees that there is a monotonic…
Voting is the aggregation of individual preferences in order to select a winning alternative. Selection of a winner is accomplished via a voting rule, e.g., rank-order voting, majority rule, plurality rule, approval voting. Which voting…
May's classical theorem states that in a single-winner choose-one voting system with just two candidates, majority rule is the only social choice function satisfying anonimity, neutrality and positive responsiveness axiom. Anonimity and…
How should well-being be prioritised in society, and what trade-offs are people willing to make between fairness and personal well-being? We investigate these questions using a stated preference experiment with a nationally representative…
This paper studies allocation mechanisms in max-flow games with players' capacities as private information. We first show that no core-selection mechanism is truthful: there may exist a player whose payoff increases if she under-reports her…
In multiplayer games with sequential decision-making, self-interested players form dynamic coalitions to achieve most-preferred temporal goals beyond their individual capabilities. We introduce a novel procedure to synthesize strategies…
This paper considers the scenario in which there are multiple institutions, each with a limited capacity for candidates, and candidates, each with preferences over the institutions. A central entity evaluates the utility of each candidate…
Resource allocation systems provide the fundamental support for the normal functioning and well being of the modern society, and can be modeled as minority games. A ubiquitous dynamical phenomenon is the emergence of herding, where a vast…
A minority game whose strategies are given by probabilities p, is replaced by a 'simplified' version that makes no use of memories at all. Numerical results show that the corresponding distribution functions are indistinguishable. A related…
To determine the welfare implications of price changes in demand data, we introduce a revealed preference relation over prices. We show that the absence of cycles in this relation characterizes a consumer who trades off the utility of…
We study a model of a population making a binary decision based on information spreading within the population, which is fully connected or covering a square grid. We assume that a fraction of the population wants to make the choice of the…
How should a buyer design procurement mechanisms when suppliers' costs are unknown, and the buyer does not have a prior belief? We demonstrate that simple mechanisms - that share a constant fraction of the buyer utility with the seller -…
Recovering and distinguishing between the strict-preference, indifference and/or indecisiveness parts of a decision maker's preferences is a challenging task but also important for testing theory and conducting welfare analysis. This paper…
A social decision rule (SDR) is any non-empty set-valued map that associates any profile of individual preferences with the set of (winning) alternatives. An SDR is Condorcet-consistent if it selects the set of Condorcet winners whenever…
We focus on the majority model in a topology consisting of two coupled fully-connected networks, thereby mimicking the existence of communities in social networks. We show that a transition takes place at a value of the inter-connectivity…