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Bias exists in how we pick leaders, who we perceive as being influential, and who we interact with, not only in society, but in organizational contexts. Drawing from leadership emergence and social influence theories, we investigate…
Why are online community sizes so extremely unequal? Most answers to this question have pointed to general mathematical processes drawn from physics like cumulative advantage. These explanations provide little insight into specific social…
Kramer's theory of activation over a potential barrier consists in computing the mean exit time from the boundary of a basin of attraction of a randomly perturbed dynamical system. Here we report that for some systems, crossing the boundary…
An agent-based model for firms' dynamics is developed. The model consists of firm agents with identical characteristic parameters and a bank agent. Dynamics of those agents is described by their balance sheets. Each firm tries to maximize…
Modeling social interactions based on individual behavior has always been an area of interest, but prior literature generally presumes rational behavior. Thus, such models may miss out on capturing the effects of biases humans are…
We investigate the mechanisms behind the power-law distribution of stock returns using artificial market simulations. While traditional financial theory assumes Gaussian price fluctuations, empirical studies consistently show that the tails…
Behaviour change lies at the heart of many observable collective phenomena such as the transmission and control of infectious diseases, adoption of public health policies, and migration of animals to new habitats. Representing the process…
In this article we analyze the global flow of migrants from 206 source countries to 145 destination countries (2006-2010) and focus on the differences in the migration network pattern between destination and source counters as represented…
Policy evaluation studies, which intend to assess the effect of an intervention, face some statistical challenges: in real-world settings treatments are not randomly assigned and the analysis might be further complicated by the presence of…
This paper considers the security investment problem over a network in which the resource owners aim to allocate their constrained security resources to heterogeneous targets strategically. Investing in each target makes it less vulnerable,…
Filtering has had a profound impact as a device of perceiving information and deriving agent expectations in dynamic economic models. For an abstract economic system, this paper shows that the foundation of applying the filtering method…
In this paper we analyze the rural-urban migration phenomena as it is usually observed in economies which are in the early stages of industrialization. The analysis is conducted by means of a statistical mechanics approach which builds a…
We model investor heterogeneity using different required returns on an investment and evaluate the impact on the valuation of an investment. By assuming no disagreement on the cash flows, we emphasize how risk preferences in particular, but…
In this work we consider a stochastic movement process with random resets to the origin followed by a random residence time there before the walker restarts its motion. First, we study the transport properties of the walker, we derive an…
Collective behavior of people in large groups and emergent crowd dynamics can have dangerous and disastrous results when panic is introduced. These events can be caused by emergency situations such as fires in a large building or a…
Inferring intent from observed behavior has been studied extensively within the frameworks of Bayesian inverse planning and inverse reinforcement learning. These methods infer a goal or reward function that best explains the actions of the…
This paper provides a general method to translate a standard economic model with a large number of agents into a field-formalism model. This formalism preserves the system's interactions and microeconomic features at the individual level…
Most population projection models require age-specific information on net migration totals as a key demographic component of population change. Existing methods for predicting future patterns of net migration by age have proven inadequate.…
We introduce preferential behavior into the study on statistical mechanics of money circulation. The computer simulation results show that the preferential behavior can lead to power laws on distributions over both holding time and amount…
The bounded rationality is a crucial component in human behaviors. It plays a key role in the typical collective behavior of evacuation, in which the heterogeneous information leads to the deviation of rational choices. In this study, we…