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Workers separate from jobs, search for jobs, accept jobs, and fund consumption with their wages. Firms recruit workers to fill vacancies. Search frictions prevent firms from instantly hiring available workers. Unemployment persists. These…
This work is concerned with the dynamics of online cultural markets, namely, attention allocation of many users on a set of digital goods with infinite supply. Such dynamic is important in shaping processes and outcomes in society, from…
The classic two-sided many-to-one job matching model assumes that firms treat workers as substitutes and workers ignore colleagues when choosing where to work. Relaxing these assumptions may lead to nonexistence of stable matchings.…
An active participation of players in evolutionary games depends on several factors, ranging from personal stakes to the properties of the interaction network. Diverse activity patterns thus have to be taken into account when studying the…
Machine teaching is an inverse problem of machine learning that aims at steering the student learner towards its target hypothesis, in which the teacher has already known the student's learning parameters. Previous studies on machine…
Artificial intelligence is simultaneously transforming the production function of human capital in schools and the return to skills in the labor market. We develop a theoretical model to analyze the potential for misallocation when these…
In this work, we analyse the relationship between heterogeneity and cooperation. Previous investigations suggest that this relation is nontrivial, as some authors found that heterogeneity sustains cooperation, while others obtained…
In this paper, we investigate stable matching in structured networks. Consider case of matching in social networks where candidates are not fully connected. A candidate on one side of the market gets acquaintance with which one on the…
This article proposes a characterization of admissions markets that can predict the distribution of students at each school or college under both centralized and decentralized admissions paradigms. The characterization builds on recent…
Evidence suggests that participants in strategy-proof matching mechanisms play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal…
Advances in reinforcement learning research have demonstrated the ways in which different agent-based models can learn how to optimally perform a task within a given environment. Reinforcement leaning solves unsupervised problems where…
By borrowing methods from complex system analysis, in this paper we analyze the features of the complex relationship that links the development and the industrialization of a country to economic inequality. In order to do this, we identify…
General equilibrium macroeconomic models are a core tool used by policymakers to understand a nation's economy. They represent the economy as a collection of forward-looking actors whose behaviours combine, possibly with stochastic effects,…
Rating systems play a vital role in the exponential growth of service-oriented markets. As highly rated online services usually receive substantial revenue in the markets, malicious sellers seek to boost their service evaluation by…
We study assignment games in which jobs select machines, and in which certain pairs of jobs may conflict, which is to say they may incur an additional cost when they are both assigned to the same machine, beyond that associated with the…
The emergence of labor division in multi-agent system is analyzed by the method of statistical physics. Considering a system consists of N homogeneous agents. Their behaviors are determined by the returns from their production. Using the…
We introduce heterogeneous R&D productivities into an endogenous R&D network formation model, generalizing the framework of Goyal and Moraga-Gonz\'alez (2001). Heterogeneous productivities endogenously create asymmetric gains from…
Using nationally representative data for India, this paper examines the incidence of education occupation mismatch and returns to education and EOM for internal migrants while considering the heterogeneity among them. In particular, this…
In this work, we develop an equilibrium model for price formation of securities in a market composed of two populations of different types: the first one consists of cooperative agents, while the other one consists of non-cooperative…
This paper characterizes equilibrium properties of a broad class of economic models that allow multiple heterogeneous agents to interact in heterogeneous manners across several markets. Our key contribution is a new theorem providing…