Related papers: Collective Adoption of Max-Min Strategy in an Info…
Observational learning is an important information aggregation mechanism. However, it occasionally leads to a state in which an entire population chooses a sub-optimal option. When it occurs and whether it is a phase transition remain…
In this paper, we discuss a voting model with two candidates, C_1 and C_2. We set two types of voters--herders and independents. The voting of independent voters is based on their fundamental values; on the other hand, the voting of herders…
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…
Individual choices are either based on personal experience or on information provided by peers. The latter case, causes individuals to conform to the majority in their neighborhood. Such herding behavior may be very efficient in aggregating…
An unknown positive number of items arrive at independent uniformly distributed times in the interval [0,1] to a selector, whose task is to pick online the last one. We show that under the assumption of an adversary determining the number…
The multiplication game is a two-person game in which each player chooses a positive integer without knowledge of the other player's number. The two numbers are then multiplied together and the first digit of the product determines the…
A decision rule is epsilon-minimax if it is minimax up to an additive factor epsilon. We present an algorithm for provably obtaining epsilon-minimax solutions for a class of statistical decision problems. In particular, we are interested in…
I describe a Bayesian persuasion problem where Receiver has a private type representing a cutoff for choosing Sender's preferred action, and Sender has maxmin preferences over all Receiver type distributions with known mean and bounds. This…
Consider the problem of finding a population or a probability distribution amongst many with the largest mean when these means are unknown but population samples can be simulated or otherwise generated. Typically, by selecting largest…
This paper aims to solve the optimal strategy against a well-known adaptive algorithm, the Hedge algorithm, in a finitely repeated $2\times 2$ zero-sum game. In the literature, related theoretical results are very rare. To this end, we make…
Understanding the nature of strategic voting is the holy grail of social choice theory, where game-theory, social science and recently computational approaches are all applied in order to model the incentives and behavior of voters. In a…
Herding, where investors imitate others' decisions rather than relying on their own analysis, is a prevalent phenomenon in financial markets. Excessive herding distorts rational decisions, amplifies volatility, and can be exploited by…
Collective intelligence is the ability of a group to perform more effectively than any individual alone. Diversity among group members is a key condition for the emergence of collective intelligence, but maintaining diversity is challenging…
In this paper, we consider a mean field model of social behavior where there are an infinite number of players, each of whom observes a type privately that represents her preference, and publicly observes a mean field state of types and…
We show that the herding procedure of Welling (2009) takes exactly the form of a standard convex optimization algorithm--namely a conditional gradient algorithm minimizing a quadratic moment discrepancy. This link enables us to invoke…
We study the parallel Minority Game, where a group of agents, each having two choices, try to independently decide on a strategy such that they stay on minority between their own two choices. However, there are multiple such groups of…
Resource allocation takes place in various types of real-world complex systems such as urban traf- fic, social services institutions, economical and ecosystems. Mathematically, the dynamical process of complex resource allocation can be…
In this paper, we study the optimal investment problem considering the herd behaviour between two agents, including one leading expert and one following agent whose decisions are influenced by those of the leading expert. In the objective…
We examine strategy-proof elections to select a winner amongst a set of agents, each of whom cares only about winning. This impartial selection problem was introduced independently by Holzman and Moulin and Alon et al. Fisher and Klimm…
Decision-making individuals are typically either an imitator, who mimics the action of the most successful individual(s), a conformist (or coordinating individual), who chooses an action if enough others have done so, or a nonconformist (or…