Related papers: Diversity and Exploration in Social Learning
Relevance and diversity are both crucial criteria for an effective search system. In this paper, we propose a unified learning framework for simultaneously optimizing both relevance and diversity. Specifically, the problem is formalized as…
Much of the existing approach to the digital divide suffers from an important limitation. It is based on a binary classification of Internet use by only considering whether someone is or is not an Internet user. To remedy this shortcoming,…
This paper adapts ideas from social identity theory to set out a new framework for modelling conspicuous consumption. Agents derive utility from their consumption of a status good and from belonging to an identity group with high status…
Strategic diversity is often essential in games: in multi-player games, for example, evaluating a player against a diverse set of strategies will yield a more accurate estimate of its performance. Furthermore, in games with…
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…
Fashion preference is a fuzzy concept that depends on customer taste, prevailing norms in fashion product/style, henceforth used interchangeably, and a customer's perception of utility or fashionability, yet fashion e-retail relies on…
We study how market segmentation affects consumers when a monopolist can adjust both prices and product qualities across segments, engaging in second- and third-degree price discrimination simultaneously. We characterize the…
While much of the rapidly growing literature on fair decision-making focuses on metrics for one-shot decisions, recent work has raised the intriguing possibility of designing sequential decision-making to positively impact long-term social…
This paper investigates third-degree price discrimination under endogenous market segmentation. Segmenting a market requires access to information about consumers, and this information comes with a cost. I explore the trade-offs between the…
"Big data" gives markets access to previously unmeasured characteristics of individual agents. Policymakers must decide whether and how to regulate the use of this data. We study how new data affects incentives for agents to exert effort in…
In this study, we investigate how supporting serendipitous discovery and analysis of online product reviews can encourage readers to explore reviews more comprehensively prior to making purchase decisions. We propose two interventions --…
Feedback from artificial intelligence (AI) is increasingly easy to access and research has already established that people learn from it. But individuals choose when and how to seek such feedback, and more engaged and motivated individuals…
The influence of additional information on the decision making of agents, who are interacting members of a society, is analyzed within the mathematical framework based on the use of quantum probabilities. The introduction of social…
In standard fair division models, we assume that all agents are selfish. However, in many scenarios, division of resources has a direct impact on the whole group or even society. Therefore, we study fair allocations of indivisible items…
A researcher allocates a budget of informative tests across multiple unknown attributes to influence a decision-maker. We derive the researcher's equilibrium learning strategy by solving an auxiliary single-player problem. The attribute…
Public and private institutions must often allocate scare resources under uncertainty. Banks, for example, extend credit to loan applicants based in part on their estimated likelihood of repaying a loan. But when the quality of information…
We consider situations where consumers are aware that a statistical model determines the price of a product based on their observed behavior. Using a novel experiment varying the context similarity between participant data and a product, we…
The exploration-exploitation trade-off is central to the description of adaptive behaviour in fields ranging from machine learning, to biology, to economics. While many approaches have been taken, one approach to solving this trade-off has…
People learn about opportunities and actions by observing the experiences of their friends. We model how homophily -- the tendency to associate with similar others -- affects both the endogenous quality and diversity of the information…
Large language models increasingly rely on explicit reasoning chains and can produce multiple plausible responses for a given context. We study the candidate sampler that produces the set of plausible responses contrasting the ancestral…