Related papers: Eliciting the Endowment Effect under Assigned Owne…
Rewards typically express desirabilities or preferences over a set of alternatives. Here we propose that rewards can be defined for any probability distribution based on three desiderata, namely that rewards should be real-valued, additive…
Reducing the peak energy consumption of households is essential for the effective use of renewable energy sources, in order to ensure that as much household demand as possible can be met by renewable sources. This entails spreading out the…
We examine the effects of an affirmative action policy at an elite Brazilian university that reserved 45 percent of admission slots for Black and low-income students. We find that marginally-admitted students who enrolled through the…
We study a version of the minority game in which one agent is allowed to join the game in a random fashion. It is shown that in the crowded regime, i.e., for small values of the memory size $m$ of the agents in the population, the agent…
Different models to study the wealth distribution in an artificial society have considered a transactional dynamics as the driving force. Those models include a risk aversion factor, but also a finite probability of favoring the poorer…
We propose and design recommendation systems that incentivize efficient exploration. Agents arrive sequentially, choose actions and receive rewards, drawn from fixed but unknown action-specific distributions. The recommendation system…
We study repeated task assignment as an instrument for providing effort incentives. Unlike traditional incentive instruments, assignment of a task both determines who produces and provides incentives, and incentives for one worker spill…
This study explores the enhancement of customer satisfaction in the airline industry, a critical factor for retaining customers and building brand reputation, which are vital for revenue growth. Utilizing a combination of machine learning…
We study a discrete-time consumption-based capital asset pricing model under expectations-based reference-dependent preferences. More precisely, we consider an endowment economy populated by a representative agent who derives utility from…
This paper presents a new rationale for a self-interested economic elite voluntarily extending property rights. When agents make endogenous investment decisions, there is a commitment problem. Ex-post, the elite face strong incentives to…
Influence Functions are a standard tool for attributing predictions to training data in a principled manner and are widely used in applications such as data valuation and fairness. In this work, we present realistic incentives to manipulate…
An analyst is tasked with producing a statistical study. The analyst is not monitored and is able to manipulate the study. He can receive payments contingent on his report and trusted data collected from an independent source, modeled as a…
Ride-hailing is rapidly changing urban and personal transportation. Ride sharing or pooling is important to mitigate negative externalities of ride-hailing such as increased congestion and environmental impacts. However, there lacks…
In the coming years, AI agents will be used for making more complex decisions, including in situations involving many different groups of people. One big challenge is that AI agent tends to act in its own interest, unlike humans who often…
Social scientists have long sought to understand why certain people, items, or options become more popular than others. One seemingly intuitive theory is that inherent value drives popularity. An alternative theory claims that popularity is…
Fairly dividing a set of indivisible resources to a set of agents is of utmost importance in some applications. However, after an allocation has been implemented the preferences of agents might change and envy might arise. We study the…
The demand for voluntary insurance against low-probability, high-impact risks is lower than expected. To assess the magnitude of the demand, we conduct a meta-analysis of contingent valuation studies using a dataset of experimentally…
The International Air Transport Association (IATA) states that the revenue from interline tickets must be shared among the different airlines according to a weighted system. We analyze this problem following an axiomatic approach, and our…
In this research, we investigate the impact of delegating decision making to information technology (IT) on an important human decision bias - the sunk cost effect. To address our research question, we use a unique and very rich dataset…
We discuss the identifiability of causal estimands for generalizability and transportability analyses, both under perfect and imperfect adherence to treatment assignment. We consider a setting where the trial data contain information on…